Beaconlight Capital LLC Takes $5.41 Million Position in FedEx Corporation $FDX

Beaconlight Capital LLC purchased a new stake in FedEx Corporation (NYSE:FDX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,201 shares of the shipping service provider’s stock, valued at approximately $5,414,000. FedEx accounts for about 2.9% of Beaconlight Capital LLC’s investment portfolio, making the stock its 11th biggest holding.

Several other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in FedEx by 0.5% during the first quarter. Public Employees Retirement System of Ohio now owns 99,159 shares of the shipping service provider’s stock worth $35,318,000 after buying an additional 521 shares in the last quarter. Compound Planning Inc. boosted its stake in FedEx by 28.7% during the first quarter. Compound Planning Inc. now owns 4,920 shares of the shipping service provider’s stock worth $1,752,000 after buying an additional 1,096 shares in the last quarter. CLG LLC raised its stake in shares of FedEx by 3.8% in the 1st quarter. CLG LLC now owns 952 shares of the shipping service provider’s stock valued at $339,000 after buying an additional 35 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of FedEx by 73.7% during the 1st quarter. Modern Wealth Management LLC now owns 2,454 shares of the shipping service provider’s stock worth $882,000 after acquiring an additional 1,041 shares during the period. Finally, Orleans Capital Management Corp LA acquired a new stake in shares of FedEx during the 1st quarter valued at about $242,000. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

FedEx stock opened at $314.77 on Friday. The business has a 50-day moving average of $335.98 and a 200-day moving average of $350.05. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $74.47 billion, a P/E ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36.

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

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FDX. Wall Street Zen upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Citizens Jmp assumed coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price for the company. The Goldman Sachs Group decreased their price target on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Stephens upgraded FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein set a $397.00 price objective on FedEx in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $350.54.

Insider Transactions at FedEx

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

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.