Blair William & Co. IL Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

Blair William & Co. IL lessened its stake in FedEx Co. (NYSE:FDX) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,629 shares of the shipping service provider’s stock after selling 2,851 shares during the quarter. Blair William & Co. IL’s holdings in FedEx were worth $15,480,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FDX. Scarborough Advisors LLC purchased a new stake in FedEx in the 4th quarter worth about $25,000. Fortis Group Advisors LLC grew its holdings in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Sachetta LLC acquired a new position in FedEx during the 4th quarter valued at about $32,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter worth approximately $39,000. Finally, Abound Wealth Management increased its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.7 %

FDX stock opened at $300.39 on Friday. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm has a 50 day simple moving average of $293.32 and a 200 day simple moving average of $274.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market cap of $73.92 billion, a PE ratio of 17.43, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share 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 firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the prior year, the business earned $4.94 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.84%. FedEx’s dividend payout ratio is 32.04%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company increased their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. The Goldman Sachs Group lifted their target price on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $314.58.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The shares were 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 directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’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 directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. 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 ninety days. Insiders own 8.73% of the company’s stock.

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.