FedEx Co. (NYSE:FDX) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. reduced its holdings in FedEx Co. (NYSE:FDX) by 46.7% during the 2nd quarter, Holdings Channel reports. The firm owned 232 shares of the shipping service provider’s stock after selling 203 shares during the quarter. Zions Bancorporation N.A.’s holdings in FedEx were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. GHP Investment Advisors Inc. grew its stake in FedEx by 0.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 29,149 shares of the shipping service provider’s stock valued at $8,740,000 after acquiring an additional 239 shares during the period. Meeder Advisory Services Inc. lifted its holdings in FedEx by 40.1% during the second quarter. Meeder Advisory Services Inc. now owns 6,193 shares of the shipping service provider’s stock valued at $1,857,000 after purchasing an additional 1,772 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of FedEx by 2,127.6% during the second quarter. Meeder Asset Management Inc. now owns 646 shares of the shipping service provider’s stock worth $194,000 after purchasing an additional 617 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of FedEx by 2.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,539 shares of the shipping service provider’s stock worth $3,460,000 after purchasing an additional 277 shares during the last quarter. Finally, Eagle Strategies LLC purchased a new position in FedEx in the 2nd quarter valued at about $258,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FedEx 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 value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. 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 in the last ninety days. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Up 0.1 %

Shares of NYSE FDX opened at $286.38 on Monday. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The business’s 50 day moving average is $293.17 and its two-hundred day moving average is $273.79. The firm has a market cap of $70.47 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

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 the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.94 EPS. Research analysts predict that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FDX shares. Robert W. Baird reiterated an “outperform” rating and set a $340.00 price objective on shares of FedEx in a research note on Friday. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.67.

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.