Strategic Financial Concepts LLC Purchases Shares of 36,769 FedEx Co. (NYSE:FDX)

Strategic Financial Concepts LLC bought a new position in FedEx Co. (NYSE:FDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,769 shares of the shipping service provider’s stock, valued at approximately $110,000.

Several other large investors have also made changes to their positions in FDX. Norges Bank bought a new stake in shares of FedEx in the 4th quarter worth about $700,291,000. Capital International Investors lifted its position in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Sentry LLC acquired a new position in FedEx during the 4th quarter worth about $307,007,000. Vanguard Group Inc. lifted its position in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. Wells Fargo & Company upped their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Bank of America upped their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Evercore ISI cut their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Stephens restated an “overweight” rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $313.96.

FedEx Price Performance

NYSE FDX opened at $283.85 on Wednesday. The business has a 50 day simple moving average of $293.65 and a 200 day simple moving average of $272.87. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market cap of $69.85 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.94 EPS. Analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.94%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Transactions at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s 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 directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

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.