FedEx Co. (NYSE:FDX) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its position in shares of FedEx Co. (NYSE:FDX) by 17.7% during the 2nd quarter, Holdings Channel reports. The firm owned 18,489 shares of the shipping service provider’s stock after purchasing an additional 2,784 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in FedEx were worth $5,544,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC grew its position in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC boosted its stake in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC increased its position in FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC increased its position in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares during the period. Finally, Sachetta LLC boosted its position in shares of 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. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America dropped their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. UBS Group reduced their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday. Finally, Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.84.

FedEx Price Performance

Shares of FDX stock opened at $254.63 on Friday. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a market capitalization of $62.66 billion, a PE ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock’s fifty day moving average is $292.43 and its 200-day moving average is $274.85.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company earned $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.17%. 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.