Founders Financial Securities LLC Sells 120 Shares of FedEx Co. (NYSE:FDX)

Founders Financial Securities LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,359 shares of the shipping service provider’s stock after selling 120 shares during the quarter. Founders Financial Securities LLC’s holdings in FedEx were worth $707,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FDX. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC bought a new stake in shares of FedEx during the 4th quarter worth $25,000. Private Wealth Management Group LLC bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Sachetta LLC bought a new stake in shares of FedEx during the 4th quarter worth $32,000. Finally, Northwest Financial Advisors bought a new stake in shares of FedEx during the 4th quarter worth $33,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FDX. Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Bank of America upped their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Raymond James dropped their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, Evercore ISI dropped their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.96.

FedEx Trading Down 0.3 %

Shares of FedEx stock opened at $292.70 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a 50 day moving average price of $294.78 and a two-hundred day moving average price of $271.45. The stock has a market capitalization of $71.51 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the firm posted $4.94 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling at FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

About FedEx

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.