Nicholas Investment Partners LP Makes New $1.52 Million Investment in FedEx Co. (NYSE:FDX)

Nicholas Investment Partners LP acquired a new stake in FedEx Co. (NYSE:FDXFree Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,126 shares of the shipping service provider’s stock, valued at approximately $1,519,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Advisors LLC acquired a new position in shares of FedEx during the 1st quarter worth about $26,000. GW&K Investment Management LLC purchased a new stake in shares of FedEx during the 1st quarter worth approximately $27,000. Glass Jacobson Investment Advisors llc purchased a new stake in FedEx in the second quarter valued at $27,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of FedEx during the first quarter worth about $35,000. Finally, Worth Asset Management LLC purchased a new stake in shares of FedEx in the 1st quarter valued at about $41,000. 73.61% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX stock traded down $4.32 during mid-day trading on Thursday, reaching $253.10. The stock had a trading volume of 207,859 shares, compared to its average volume of 1,950,742. FedEx Co. has a 12-month low of $162.61 and a 12-month high of $270.95. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $250.53 and a 200 day simple moving average of $247.08. The company has a market cap of $63.63 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 EPS for the quarter, beating the consensus estimate of $3.71 by $0.84. FedEx had a net margin of 4.71% and a return on equity of 16.14%. The business had revenue of $21.68 billion for the quarter, compared to analyst estimates of $21.74 billion. During the same period in the prior year, the business earned $3.44 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 18.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, September 8th. FedEx’s dividend payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

FDX has been the topic of several research analyst reports. Citigroup lifted their price target on FedEx from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. The Goldman Sachs Group lifted their price objective on shares of FedEx from $269.00 to $278.00 in a research note on Wednesday, September 13th. Evercore ISI increased their target price on shares of FedEx from $275.00 to $276.00 and gave the stock an “outperform” rating in a research note on Monday, September 18th. Jefferies Financial Group boosted their price target on FedEx from $245.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday, September 21st. Finally, Stephens reaffirmed an “overweight” rating and set a $290.00 price objective on shares of FedEx in a research report on Thursday, September 21st. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.54.

Get Our Latest Stock Analysis on FDX

Insider Activity at FedEx

In related news, VP Jennifer L. Johnson sold 13,348 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $258.25, for a total transaction of $3,447,121.00. Following the sale, the vice president now owns 3,428 shares in the company, valued at $885,281. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.73% of the stock is currently owned by corporate insiders.

About FedEx

(Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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