Newbridge Financial Services Group Inc. Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Newbridge Financial Services Group Inc. raised its stake in FedEx Co. (NYSE:FDX) by 93.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,741 shares of the shipping service provider’s stock after purchasing an additional 2,777 shares during the period. Newbridge Financial Services Group Inc.’s holdings in FedEx were worth $1,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC boosted its stake in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new position in FedEx during the 4th quarter worth $25,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter valued at about $39,000. Security National Bank purchased a new stake in shares of FedEx during the fourth quarter worth about $44,000. Finally, Abound Wealth Management increased its holdings in shares of FedEx by 175.9% during the second 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 in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Evercore ISI cut their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Loop Capital cut their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Finally, BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $314.74.

Insiders Place Their Bets

In related news, Director Marvin R. Ellison sold 2,535 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the sale, the director now owns 6,955 shares of the company’s stock, valued at $2,081,909.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the sale, the director now owns 6,955 shares in the company, valued at approximately $2,081,909.70. The disclosure for this sale can be found here. Insiders sold 12,914 shares of company stock valued at $3,978,338 in the last three months. 8.73% of the stock is currently owned by insiders.

FedEx Price Performance

NYSE:FDX opened at $269.56 on Wednesday. The stock has a 50 day moving average of $286.76 and a two-hundred day moving average of $275.91. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm has a market cap of $66.33 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the company posted $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 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.