Brown Brothers Harriman & Co. Sells 105 Shares of FedEx Co. (NYSE:FDX)

Brown Brothers Harriman & Co. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,563 shares of the shipping service provider’s stock after selling 105 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in FedEx were worth $4,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of FDX. Redwood Wealth Management Group LLC bought a new position in shares of FedEx in the second quarter worth approximately $93,000. WINTON GROUP Ltd purchased a new stake in shares of FedEx during the second quarter worth about $3,298,000. Wilkins Investment Counsel Inc. grew its holdings in FedEx by 5.5% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 4,220 shares of the shipping service provider’s stock valued at $1,265,000 after buying an additional 220 shares in the last quarter. Schulhoff & Co. Inc. raised its position in shares of FedEx by 14.0% during the second quarter. Schulhoff & Co. Inc. now owns 815 shares of the shipping service provider’s stock valued at $244,000 after buying an additional 100 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of FedEx by 0.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 166,215 shares of the shipping service provider’s stock worth $49,838,000 after buying an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was 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 of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total value 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 approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

FedEx Stock Up 2.2 %

Shares of NYSE FDX opened at $292.63 on Tuesday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock’s fifty day simple moving average is $293.11 and its two-hundred day simple moving average is $274.10. The stock has a market capitalization of $72.01 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings results 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. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the firm posted $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Analysts Set New Price Targets

A number of analysts have issued reports on FDX shares. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Robert W. Baird reiterated an “outperform” rating and set a $340.00 target price on shares of FedEx in a research report on Friday. Raymond James lowered their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, Evercore ISI reduced their price objective on FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.67.

FedEx Company 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.