Foundations Investment Advisors LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

Foundations Investment Advisors LLC decreased its position in shares of FedEx Co. (NYSE:FDX) by 17.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,756 shares of the shipping service provider’s stock after selling 366 shares during the period. Foundations Investment Advisors LLC’s holdings in FedEx were worth $526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of FedEx in the 4th quarter worth about $25,000. Fortis Group Advisors LLC increased its position in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of FedEx in the 4th quarter worth about $28,000. Sachetta LLC bought a new stake in shares of FedEx in the 4th quarter worth about $32,000. Finally, Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.8 %

Shares of NYSE:FDX opened at $283.04 on Friday. The company has a 50 day moving average of $294.25 and a 200-day moving average of $272.09. The firm has a market cap of $69.65 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the previous year, the firm earned $4.94 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts anticipate that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued 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 dividend yield of 1.95%. FedEx’s payout ratio is currently 32.04%.

Analysts Set New Price Targets

Several research firms have recently commented on FDX. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. TD Cowen began coverage on shares of FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target for the company. Evercore ISI decreased their price target on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Morgan Stanley lifted their price target on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $313.96.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by corporate 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.