Clayton Partners LLC Increases Stake in FedEx Co. (NYSE:FDX)

Clayton Partners LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 34.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,259 shares of the shipping service provider’s stock after purchasing an additional 3,390 shares during the quarter. FedEx comprises 3.2% of Clayton Partners LLC’s investment portfolio, making the stock its 11th biggest holding. Clayton Partners LLC’s holdings in FedEx were worth $3,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC increased its stake in FedEx by 0.6% during the 2nd 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 in the last quarter. LRI Investments LLC grew its holdings in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC raised its holdings 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 acquiring an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted its position in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related 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 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 is available at the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the 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 sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last quarter. 8.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a research note on Friday. TD Cowen dropped their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Stifel Nicolaus dropped their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday. Finally, UBS Group decreased 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.84.

FedEx Price Performance

Shares of FedEx stock opened at $254.63 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The stock’s 50-day simple moving average is $292.43 and its 200-day simple moving average is $274.85. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

About FedEx

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.