Steel Grove Capital Advisors LLC Has $396,000 Stock Holdings in FedEx Co. (NYSE:FDX)

Steel Grove Capital Advisors LLC lowered its stake in FedEx Co. (NYSE:FDX) by 29.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,321 shares of the shipping service provider’s stock after selling 540 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in FedEx were worth $396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors boosted its position in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of 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. Mawer Investment Management Ltd. increased its position in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Activity at FedEx

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

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. TD Cowen lowered their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday. Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday. Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday. Finally, Bernstein Bank increased their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

FedEx Stock Up 1.6 %

FDX stock opened at $258.82 on Tuesday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market cap of $63.69 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $291.50 and a two-hundred day moving average price of $275.28.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s payout ratio 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.