Palogic Value Management L.P. Invests $1.09 Million in FedEx Corporation $FDX

Palogic Value Management L.P. acquired a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,475 shares of the shipping service provider’s stock, valued at approximately $1,088,000.

A number of other hedge funds have also made changes to their positions in the stock. Perennial Investment Advisors LLC bought a new stake in FedEx during the second quarter worth approximately $396,000. Pingora Partners LLC bought a new position in FedEx during the 2nd quarter valued at $157,000. Ausdal Financial Partners Inc. bought a new position in FedEx during the 2nd quarter valued at $387,000. Bank of America Corp DE acquired a new position in shares of FedEx during the 2nd quarter valued at $579,171,000. Finally, Freestone Grove Partners LP acquired a new position in shares of FedEx during the 2nd quarter valued at $22,258,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred 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 owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by company insiders.

FedEx Stock Up 0.8%

Shares of FedEx stock opened at $336.52 on Thursday. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36. The firm has a market capitalization of $79.64 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $319.13 and its 200-day moving average is $351.11.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FDX. Barclays cut their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of FedEx in a report on Wednesday, August 19th. Truist Financial cut their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Rothschild & Co Redburn reduced their price objective on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Weiss Ratings raised shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

About FedEx

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.