Duncan Williams Asset Management LLC Buys 2,780 Shares of FedEx Co. (NYSE:FDX)

Duncan Williams Asset Management LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 187.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,264 shares of the shipping service provider’s stock after purchasing an additional 2,780 shares during the period. FedEx accounts for approximately 0.6% of Duncan Williams Asset Management LLC’s holdings, making the stock its 28th biggest position. Duncan Williams Asset Management LLC’s holdings in FedEx were worth $1,167,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Susquehanna decreased their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.74.

Insider Activity at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were 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 owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the completion of the transaction, the director now owns 6,955 shares in the company, valued at $2,081,909.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 12,914 shares of company stock worth $3,978,338 over the last 90 days. Company insiders own 8.73% of the company’s stock.

FedEx Stock Down 1.8 %

FDX stock opened at $262.09 on Friday. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The stock has a market capitalization of $64.50 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a fifty day moving average of $285.40 and a 200-day moving average of $275.75.

FedEx (NYSE:FDX) last released its earnings results 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 return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the business posted $4.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 19.66 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 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.