LJI Wealth Management LLC Sells 50 Shares of FedEx Co. (NYSE:FDX)

LJI Wealth Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,030 shares of the shipping service provider’s stock after selling 50 shares during the quarter. LJI Wealth Management LLC’s holdings in FedEx were worth $309,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Precision Wealth Strategies LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $324,000. Gladstone Institutional Advisory LLC boosted its position in FedEx by 42.2% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,625 shares of the shipping service provider’s stock valued at $917,000 after acquiring an additional 1,075 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of FedEx by 12.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,011 shares of the shipping service provider’s stock worth $1,015,000 after acquiring an additional 440 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of FedEx by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 630,171 shares of the shipping service provider’s stock valued at $159,414,000 after purchasing an additional 17,491 shares during the period. Finally, Sachetta LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $32,000. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last three months. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. The Goldman Sachs Group raised their price objective on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Robert W. Baird restated an “outperform” rating and issued a $340.00 price objective on shares of FedEx in a report on Friday, September 13th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Bank of America cut their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday. 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 report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.58.

FedEx Stock Performance

Shares of FDX opened at $298.17 on Thursday. The firm has a market capitalization of $73.37 billion, a P/E ratio of 17.31, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The business has a fifty day moving average of $293.30 and a 200 day moving average of $274.62.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The business 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%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $4.94 earnings per share. As a group, sell-side analysts anticipate 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. Investors of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

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.