Brighton Jones LLC Acquires 75 Shares of FedEx Co. (NYSE:FDX)

Brighton Jones LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,685 shares of the shipping service provider’s stock after acquiring an additional 75 shares during the quarter. Brighton Jones LLC’s holdings in FedEx were worth $505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. grew its stake in FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in FedEx during the first quarter valued at approximately $1,667,000. Allegheny Financial Group LTD acquired a new stake in FedEx in the first quarter valued at approximately $203,000. Hilltop National Bank purchased a new position in FedEx in the first quarter worth $476,000. Finally, Csenge Advisory Group lifted its holdings in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 15.2 %

Shares of FDX opened at $254.64 on Friday. The firm’s fifty day moving average is $292.43 and its two-hundred day moving average is $275.04. The stock has a market cap of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the company posted $4.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 yield of 2.17%. FedEx’s payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FDX shares. BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday. Bernstein Bank increased their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday. Finally, Evercore ISI decreased their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $313.38.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction 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 in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, 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 transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $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 valued at $9,882,355. Insiders own 8.73% of the company’s stock.

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.