2,049 Shares in FedEx Co. (NYSE:FDX) Purchased by Element Pointe Advisors LLC

Element Pointe Advisors LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) during the 2nd quarter, HoldingsChannel reports. The firm acquired 2,049 shares of the shipping service provider’s stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp grew its position in FedEx by 1.4% in the 1st quarter. Northern Trust Corp now owns 2,898,010 shares of the shipping service provider’s stock worth $525,728,000 after purchasing an additional 38,692 shares during the last quarter. Greenhaven Associates Inc. grew its position in FedEx by 0.7% in the 1st quarter. Greenhaven Associates Inc. now owns 2,749,967 shares of the shipping service provider’s stock worth $498,872,000 after purchasing an additional 20,450 shares during the last quarter. Geode Capital Management LLC grew its position in FedEx by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock worth $442,149,000 after purchasing an additional 185,252 shares during the last quarter. Artisan Partners Limited Partnership grew its position in FedEx by 40.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after purchasing an additional 792,575 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in FedEx by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after purchasing an additional 418,451 shares during the last quarter. Hedge funds and other institutional investors own 68.88% of the company’s stock.

In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the sale, the director now owns 16,440 shares in the company, valued at approximately $2,661,307.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Shares of NYSE:FDX traded down $6.11 during mid-day trading on Monday, hitting $157.62. The stock had a trading volume of 30,540 shares, compared to its average volume of 2,110,609. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $42.70 billion, a P/E ratio of 10.15, a PEG ratio of 0.89 and a beta of 1.65. FedEx Co. has a 12-month low of $150.68 and a 12-month high of $259.25. The firm’s 50 day simple moving average is $166.02.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.93 by $0.08. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The business had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. During the same quarter in the prior year, the firm earned $5.91 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 14.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Monday, June 24th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.65%. FedEx’s payout ratio is 16.75%.

Several research firms have commented on FDX. Bank of America decreased their target price on shares of FedEx from $188.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Credit Suisse Group decreased their price objective on shares of FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, June 26th. ValuEngine cut shares of FedEx from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup decreased their price objective on shares of FedEx from $192.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, UBS Group set a $136.00 price objective on shares of FedEx and gave the company a “sell” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $191.63.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

Read More: Cost of equity and a company’s balance sheet

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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