Angeles Wealth Management LLC Invests $323,000 in FedEx Co. (NYSE:FDX)

Angeles Wealth Management LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) during the second quarter, HoldingsChannel reports. The firm purchased 1,078 shares of the shipping service provider’s stock, valued at approximately $323,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in FedEx by 5.6% during the first 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 during the last quarter. Capital International Investors raised its stake in FedEx by 32.5% during the first 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 during the last quarter. Putnam Investments LLC raised its stake in FedEx by 38.1% during the fourth 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 during the last quarter. Norges Bank bought a new position in FedEx during the fourth quarter worth $700,291,000. Finally, Mawer Investment Management Ltd. raised its stake in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after buying an additional 684,679 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDX. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. UBS Group decreased their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. TD Cowen assumed coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target for the company. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $313.96.

FedEx Trading Up 0.4 %

Shares of FDX stock opened at $284.86 on Thursday. 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 company has a 50-day simple moving average of $293.47 and a two-hundred day simple moving average of $272.95. The company has a market capitalization of $70.10 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.03 and a beta of 1.17.

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

FedEx Dividend Announcement

The business also recently announced 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. This represents a $5.52 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the company’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 directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’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 sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by insiders.

FedEx 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.