Kelman Lazarov Inc. Takes Position in FedEx Corporation $FDX

Kelman Lazarov Inc. purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,126 shares of the shipping service provider’s stock, valued at approximately $979,000.

Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in FedEx during the 2nd quarter valued at $6,508,103,000. State Street Corp boosted its stake in shares of FedEx by 4.2% in the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after buying an additional 382,848 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of FedEx by 6.6% in the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after buying an additional 318,293 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after acquiring an additional 45,818 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after acquiring an additional 108,426 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent research reports. Wall Street Zen upgraded FedEx to a “hold” rating in a research note on Saturday, August 8th. UBS Group dropped their price objective on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Raymond James Financial restated an “outperform” rating on shares of FedEx in a research report on Wednesday. Bank of America lifted their price target on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Stephens upgraded FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Stock Performance

Shares of NYSE FDX opened at $328.07 on Thursday. The stock has a market cap of $77.65 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The firm has a fifty day moving average price of $319.53 and a 200-day moving average price of $351.69. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

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

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

FedEx 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.