New Century Financial Group LLC Grows Stock Holdings in FedEx Co. (NYSE:FDX)

New Century Financial Group LLC lifted its stake in FedEx Co. (NYSE:FDX) by 148.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,293 shares of the shipping service provider’s stock after purchasing an additional 3,165 shares during the quarter. FedEx comprises approximately 0.7% of New Century Financial Group LLC’s holdings, making the stock its 27th largest position. New Century Financial Group LLC’s holdings in FedEx were worth $1,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its stake in shares of FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after buying an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in FedEx during the 1st quarter valued at $1,667,000. Allegheny Financial Group LTD bought a new stake in shares of FedEx in the 1st quarter worth $203,000. Hilltop National Bank purchased a new position in shares of FedEx in the first quarter worth $476,000. Finally, Csenge Advisory Group lifted its holdings in shares of FedEx by 14.9% during the first 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 in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brie Carere sold 1,958 shares of the business’s 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 transaction, 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 Securities & Exchange Commission, which is available through this link. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,030 shares of company stock valued at $4,013,050. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FDX. TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company 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 cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.74.

FedEx Price Performance

Shares of NYSE:FDX opened at $273.53 on Tuesday. The company has a market capitalization of $67.31 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.04 and a beta of 1.17. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The firm’s 50 day simple moving average is $287.38 and its two-hundred day simple moving average is $275.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last released its 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the firm posted $4.55 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts expect that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 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.