North Star Asset Management Inc. Buys Shares of 9,657 FedEx Corporation $FDX

North Star Asset Management Inc. purchased a new stake in shares of FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,657 shares of the shipping service provider’s stock, valued at approximately $3,024,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of FedEx during the second quarter worth $6,508,103,000. State Street Corp grew its stake in shares of FedEx by 4.2% in the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after acquiring an additional 382,848 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of FedEx during the second quarter worth $2,554,138,000. Franklin Resources Inc. increased its position in shares of FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after acquiring an additional 318,293 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 valued at $1,443,666,000 after acquiring an additional 45,818 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 1.4%

NYSE:FDX opened at $331.45 on Friday. The stock’s 50 day moving average price is $319.23 and its 200 day moving average price is $350.85. The company has a market capitalization of $78.44 billion, a PE ratio of 17.91, a P/E/G ratio of 1.73 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. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company 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%. On average, research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be paid 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 26.36%.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Seaport Research Partners began coverage on FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a report on Wednesday, June 24th. HSBC decreased their price target on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Bank of America increased their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, UBS Group reduced 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. One research 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 company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $350.54.

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.