Tidal Investments LLC Has $5.08 Million Position in FedEx Co. (NYSE:FDX)

Tidal Investments LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 77.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,530 shares of the shipping service provider’s stock after acquiring an additional 7,678 shares during the period. Tidal Investments LLC’s holdings in FedEx were worth $5,079,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mayflower Financial Advisors LLC increased its holdings in FedEx by 4.6% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,771 shares of the shipping service provider’s stock valued at $448,000 after purchasing an additional 78 shares during the last quarter. Miracle Mile Advisors LLC grew its position in shares of FedEx by 1.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 20,401 shares of the shipping service provider’s stock worth $5,161,000 after buying an additional 263 shares during the period. Glass Jacobson Investment Advisors llc increased its stake in shares of FedEx by 64.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 255 shares of the shipping service provider’s stock valued at $65,000 after acquiring an additional 100 shares during the last quarter. Chicago Capital LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $428,000. Finally, Osborne Partners Capital Management LLC boosted its stake in FedEx by 22.5% during the 4th quarter. Osborne Partners Capital Management LLC now owns 1,245 shares of the shipping service provider’s stock worth $315,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of a number of recent analyst reports. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Evercore ISI lowered their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Robert W. Baird upped their price objective on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $314.00.

Insiders Place Their Bets

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

FedEx stock traded down $4.00 during mid-day trading on Thursday, hitting $298.25. 385,644 shares of the company’s stock traded hands, compared to its average volume of 1,884,087. The stock has a market cap of $72.86 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.09 and a beta of 1.18. The firm has a 50 day simple moving average of $275.93 and a two-hundred day simple moving average of $263.50. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $4.94 earnings per share. On average, research analysts expect that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.85%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.