FedEx Co. (NYSE:FDX) Shares Sold by McGinn Penninger Investment Management Inc.

McGinn Penninger Investment Management Inc. lessened its stake in shares of FedEx Co. (NYSE:FDX) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,090 shares of the shipping service provider’s stock after selling 40 shares during the period. FedEx accounts for about 3.9% of McGinn Penninger Investment Management Inc.’s portfolio, making the stock its 7th largest position. McGinn Penninger Investment Management Inc.’s holdings in FedEx were worth $5,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of FedEx during the fourth quarter valued at about $25,000. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the period. Central Valley Advisors LLC bought a new position in FedEx in the second quarter worth approximately $39,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Sachetta LLC grew its stake in 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 acquiring an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 2.2 %

FDX opened at $273.53 on Tuesday. The company’s 50-day moving average price is $287.38 and its two-hundred day moving average price is $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 twelve month low of $224.69 and a twelve month high of $313.84. The stock 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.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $4.55 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed 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 2.02%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Argus raised their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.74.

Insider Activity at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value 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 $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,030 shares of company stock worth $4,013,050. Company 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.