Oppenheimer & Co. Inc. Boosts Stock Position in FedEx Co. (NYSE:FDX)

Oppenheimer & Co. Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,539 shares of the shipping service provider’s stock after purchasing an additional 277 shares during the period. Oppenheimer & Co. Inc.’s holdings in FedEx were worth $3,460,000 as of its most recent SEC filing.

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

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now 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 worth $9,882,355 in the last ninety days. 8.73% of the stock is owned by company insiders.

FedEx Price Performance

Shares of FedEx stock opened at $286.38 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $70.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The business’s 50-day moving average price is $293.17 and its 200-day moving average price is $273.79. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $4.94 EPS. Sell-side analysts forecast 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. Investors of record on Monday, September 9th will be issued 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 dividend payout ratio is presently 32.04%.

Analyst Ratings Changes

A number of brokerages have recently commented on FDX. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Finally, Raymond James decreased their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven 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 an average rating of “Moderate Buy” and an average target price 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.