SG Americas Securities LLC reduced its holdings in FedEx Co. (NYSE:FDX – Free Report) by 73.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,035 shares of the shipping service provider’s stock after selling 28,246 shares during the quarter. SG Americas Securities LLC’s holdings in FedEx were worth $2,488,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lakewood Asset Management LLC acquired a new stake in FedEx during the fourth quarter worth about $26,000. Guardian Wealth Advisors LLC acquired a new stake in FedEx during the first quarter worth about $26,000. GW&K Investment Management LLC acquired a new stake in FedEx during the first quarter worth about $27,000. Horan Securities Inc. grew its position in FedEx by 85.7% during the first quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock worth $30,000 after buying an additional 60 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in FedEx by 1,957.1% during the first quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock worth $33,000 after buying an additional 137 shares in the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on FDX shares. Atlantic Securities began coverage on FedEx in a research report on Tuesday, June 6th. They set an “overweight” rating and a $265.00 target price on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $300.00 price objective on shares of FedEx in a report on Thursday, September 14th. Loop Capital decreased their price objective on FedEx from $263.00 to $255.00 in a report on Thursday, June 22nd. The Goldman Sachs Group lifted their price objective on FedEx from $269.00 to $278.00 in a report on Wednesday, September 13th. Finally, Evercore ISI lifted their target price on shares of FedEx from $275.00 to $276.00 and gave the company an “outperform” rating in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $254.30.
FedEx Price Performance
Shares of FDX stock opened at $250.54 on Thursday. FedEx Co. has a 12-month low of $141.92 and a 12-month high of $270.95. The firm has a market capitalization of $63.01 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $260.56 and a 200-day moving average of $238.98.
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.84. The company had revenue of $21.68 billion during the quarter, compared to analyst estimates of $21.74 billion. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.44 EPS. On average, equities research analysts forecast that FedEx Co. will post 17.38 earnings per share for the current year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a $1.26 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s payout ratio is 32.52%.
Insider Buying and Selling at FedEx
In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the transaction, the executive vice president now owns 22,478 shares in the company, valued at approximately $5,886,538.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Michael C. Lenz sold 5,745 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the sale, the executive vice president now owns 22,478 shares in the company, valued at approximately $5,886,538.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 19,270 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total transaction of $4,740,420.00. Following the sale, the executive vice president now owns 58,875 shares in the company, valued at approximately $14,483,250. The disclosure for this sale can be found here. Insiders have sold a total of 35,816 shares of company stock valued at $8,822,147 in the last three months. 8.73% of the stock is currently owned by company insiders.
FedEx Company Profile
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.
Featured Stories
- Five stocks we like better than FedEx
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Are These Consumer Staples Too Cheap for Investors To Ignore?
- Are Penny Stocks a Good Fit for Your Portfolio?
- 3 ETFs for the Conservative Investor to Buy and Hold
- How to Invest in Insurance Companies: A Guide
- Markets Are Loving These Stocks ‘Firing On All Cylinders’
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.
