Entropy Technologies LP Buys 47,895 Shares of FedEx Corporation $FDX

Entropy Technologies LP boosted its stake in FedEx Corporation (NYSE:FDX) by 2,864.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,567 shares of the shipping service provider’s stock after acquiring an additional 47,895 shares during the quarter. FedEx accounts for 0.8% of Entropy Technologies LP’s portfolio, making the stock its 6th largest position. Entropy Technologies LP’s holdings in FedEx were worth $17,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Hollencrest Capital Management acquired a new stake in shares of FedEx in the 1st quarter valued at about $25,000. Bayban acquired a new position in shares of FedEx during the first quarter worth about $26,000. Cedar Mountain Advisors LLC boosted its position in shares of FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after buying an additional 41 shares during the period. EFG International AG bought a new position in shares of FedEx during the fourth quarter worth about $27,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on FDX shares. UBS Group cut their target price on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Citizens Jmp began coverage on shares of FedEx in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target for the company. Truist Financial lowered their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Bank of America boosted their price objective on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Seaport Research Partners started coverage on shares of FedEx in a report on Wednesday, May 27th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $314.77 on Friday. The stock has a 50 day moving average price of $335.98 and a 200 day moving average price of $350.05. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market capitalization of $74.47 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion for the quarter. Analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s payout ratio is presently 26.36%.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.