Magnolia Capital Advisors LLC Invests $9.23 Million in FedEx Co. (NYSE:FDX)

Magnolia Capital Advisors LLC purchased a new stake in FedEx Co. (NYSE:FDX) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 30,770 shares of the shipping service provider’s stock, valued at approximately $9,226,000.

Several other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of FedEx during the fourth quarter valued at approximately $25,000. Fortis Group Advisors LLC increased its position in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% during the 2nd 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. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Up 0.5 %

FDX stock opened at $267.55 on Friday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company’s 50 day moving average price is $288.06 and its 200 day moving average price is $275.53. 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 firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.04 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 for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.55 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. UBS Group decreased their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. BMO Capital Markets dropped their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.74.

Insider Transactions at FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other FedEx news, Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the transaction, the director now directly owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,399 shares of company stock worth $4,420,615. 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.