Lake Street Advisors Group LLC Has $664,000 Holdings in FedEx Co. (NYSE:FDX)

Lake Street Advisors Group LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 3.4% in the second quarter, HoldingsChannel.com reports. The firm owned 2,204 shares of the shipping service provider’s stock after selling 78 shares during the quarter. Lake Street Advisors Group LLC’s holdings in FedEx were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FDX. Candriam S.C.A. raised its position in shares of FedEx by 0.3% in the second quarter. Candriam S.C.A. now owns 19,639 shares of the shipping service provider’s stock valued at $5,888,000 after buying an additional 63 shares in the last quarter. Private Advisor Group LLC raised its holdings in FedEx by 5.6% in the 2nd quarter. Private Advisor Group LLC now owns 19,551 shares of the shipping service provider’s stock valued at $5,862,000 after acquiring an additional 1,042 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of FedEx by 0.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 26,237 shares of the shipping service provider’s stock valued at $7,867,000 after acquiring an additional 77 shares during the period. 9258 Wealth Management LLC grew its holdings in shares of FedEx by 14.8% during the 2nd quarter. 9258 Wealth Management LLC now owns 845 shares of the shipping service provider’s stock worth $253,000 after purchasing an additional 109 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of FedEx by 5.0% in the second quarter. TD Asset Management Inc now owns 90,147 shares of the shipping service provider’s stock worth $27,030,000 after purchasing an additional 4,289 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $283.04 on Friday. The company has a market capitalization of $69.65 billion, a P/E ratio of 16.43, a PEG ratio of 1.08 and a beta of 1.17. The company has a fifty day moving average price of $294.25 and a 200-day moving average price of $272.09. 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.

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

FedEx Announces Dividend

The business 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. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FDX. UBS Group cut their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. TD Cowen began coverage on FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 target price on the stock. Finally, Evercore ISI lowered their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $313.96.

Insider Buying and Selling at FedEx

In other 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 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.