MGO One Seven LLC Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

MGO One Seven LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,765 shares of the shipping service provider’s stock after selling 111 shares during the quarter. MGO One Seven LLC’s holdings in FedEx were worth $829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Precision Wealth Strategies LLC purchased a new position in shares of FedEx during the fourth quarter worth about $324,000. Foundations Investment Advisors LLC boosted its holdings in FedEx by 18.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 2,252 shares of the shipping service provider’s stock valued at $545,000 after purchasing an additional 348 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in FedEx by 7.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,679 shares of the shipping service provider’s stock valued at $678,000 after purchasing an additional 179 shares in the last quarter. Haverford Trust Co boosted its holdings in FedEx by 2.9% in the 4th quarter. Haverford Trust Co now owns 1,891 shares of the shipping service provider’s stock valued at $478,000 after purchasing an additional 54 shares in the last quarter. Finally, Meridian Wealth Management LLC boosted its holdings in FedEx by 19.2% in the 4th quarter. Meridian Wealth Management LLC now owns 1,354 shares of the shipping service provider’s stock valued at $343,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction 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 directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Morgan Stanley lifted their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. Raymond James reduced their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, Bank of America lifted their price target on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.67.

FedEx Stock Up 0.1 %

FDX stock opened at $286.38 on Friday. The stock has a market capitalization of $70.47 billion, a P/E ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17. 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 one year low of $224.69 and a one year high of $313.84. The company has a 50 day moving average price of $293.17 and a two-hundred day moving average price of $273.36.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during 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%. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $4.94 EPS. As a group, sell-side analysts expect that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company 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. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s payout ratio is currently 32.04%.

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.