NewEdge Advisors LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

NewEdge Advisors LLC decreased its holdings in FedEx Co. (NYSE:FDX) by 37.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,563 shares of the shipping service provider’s stock after selling 6,991 shares during the quarter. NewEdge Advisors LLC’s holdings in FedEx were worth $3,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Capital International Investors grew its holdings in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Sentry LLC purchased a new stake in FedEx in the 4th quarter valued at about $307,007,000. Vanguard Group Inc. grew its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Putnam Investments LLC grew its holdings in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. grew its holdings in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FDX. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Argus boosted their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Stephens reiterated an “overweight” rating and set a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Bernstein Bank boosted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. 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 company. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.74.

FedEx Stock Performance

Shares of FDX opened at $266.93 on Thursday. The business’s 50 day moving average is $286.13 and its two-hundred day moving average is $275.85. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The firm has a market cap of $65.69 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.04 and a beta of 1.17. 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 (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.07%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Activity

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,914 shares of company stock worth $3,978,338. 8.73% of the stock is currently owned by insiders.

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.