Stonebrook Private Inc. Takes Position in FedEx Co. (NYSE:FDX)

Stonebrook Private Inc. bought a new position in shares of FedEx Co. (NYSE:FDX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 687 shares of the shipping service provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Letko Brosseau & Associates Inc. grew its stake in FedEx by 2.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 149,150 shares of the shipping service provider’s stock valued at $44,721,000 after acquiring an additional 3,570 shares in the last quarter. Matthew 25 Management Corp grew its position in shares of FedEx by 2.0% during the second quarter. Matthew 25 Management Corp now owns 103,500 shares of the shipping service provider’s stock valued at $31,033,000 after purchasing an additional 2,000 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of FedEx by 44.8% in the second quarter. Illinois Municipal Retirement Fund now owns 74,275 shares of the shipping service provider’s stock worth $22,271,000 after purchasing an additional 22,969 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of FedEx by 3.3% in the second quarter. Cullen Frost Bankers Inc. now owns 6,718 shares of the shipping service provider’s stock worth $2,014,000 after buying an additional 217 shares in the last quarter. Finally, Intelligence Driven Advisers LLC bought a new position in FedEx during the second quarter valued at approximately $248,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, 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 completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the firm’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 directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FDX. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Argus upped their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Raymond James dropped their price target 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, The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $313.96.

FedEx Trading Down 0.8 %

Shares of FDX opened at $283.04 on Friday. The firm has a market capitalization of $69.65 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a 50-day moving average of $294.25 and a 200 day moving average of $272.09.

FedEx (NYSE:FDX) last issued 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 analyst estimates of $22.04 billion. During the same period last year, the company posted $4.94 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 20.87 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is 32.04%.

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.