Mercer Global Advisors Inc. ADV Raises Holdings in FedEx Co. (NYSE:FDX)

Mercer Global Advisors Inc. ADV lifted its holdings in FedEx Co. (NYSE:FDX) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,596 shares of the shipping service provider’s stock after purchasing an additional 3,370 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in FedEx were worth $22,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bradley Foster & Sargent Inc. CT raised its position in FedEx by 1.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,461 shares of the shipping service provider’s stock worth $1,637,000 after buying an additional 89 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of FedEx by 4.4% in the second quarter. Axxcess Wealth Management LLC now owns 22,325 shares of the shipping service provider’s stock worth $6,694,000 after acquiring an additional 941 shares during the period. Sargent Investment Group LLC raised its holdings in shares of FedEx by 54.1% during the second quarter. Sargent Investment Group LLC now owns 5,788 shares of the shipping service provider’s stock valued at $1,735,000 after purchasing an additional 2,031 shares during the last quarter. Peregrine Asset Advisers Inc. bought a new position in FedEx during the second quarter valued at approximately $1,976,000. Finally, Capstone Wealth Management Group LLC purchased a new stake in FedEx in the second quarter worth approximately $307,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction 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 sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Morgan Stanley upped their price target on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. TD Cowen started coverage on shares of FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.58.

FedEx Price Performance

Shares of NYSE:FDX opened at $298.17 on Thursday. The firm has a market cap of $73.37 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.03 and a beta of 1.17. The firm has a fifty day moving average price of $293.30 and a 200 day moving average price of $274.62. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. 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 (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during 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 business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $4.94 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. FedEx’s dividend payout ratio is currently 32.04%.

FedEx 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.