420 Shares in FedEx Co. (NYSE:FDX) Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 420 shares of the shipping service provider’s stock, valued at approximately $126,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. SeaCrest Wealth Management LLC increased its stake in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC increased its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC increased its stake in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC increased its stake in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC increased its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FDX shares. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. BMO Capital Markets decreased their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

Insider Activity

In other news, EVP Brie Carere sold 1,958 shares of the firm’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 transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx 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 owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,030 shares of company stock worth $4,013,050. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Up 2.2 %

FDX stock opened at $273.53 on Tuesday. The company has a market cap of $67.31 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.04 and a beta of 1.17. The company has a 50 day moving average of $287.38 and a two-hundred day moving average of $275.80. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.55 EPS. On average, equities analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued 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 2.02%. FedEx’s dividend payout ratio is currently 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.