William B. Walkup & Associates Inc. Purchases New Position in FedEx Co. (NYSE:FDX)

William B. Walkup & Associates Inc. acquired a new stake in shares of FedEx Co. (NYSE:FDX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,426 shares of the shipping service provider’s stock, valued at approximately $1,327,000. FedEx accounts for approximately 0.9% of William B. Walkup & Associates Inc.’s investment portfolio, making the stock its 29th biggest position.

Several other large investors have also recently bought and sold shares of FDX. Sunbelt Securities Inc. boosted its position in shares of FedEx by 19.5% during the second quarter. Sunbelt Securities Inc. now owns 686 shares of the shipping service provider’s stock worth $206,000 after purchasing an additional 112 shares in the last quarter. Front Row Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth $252,000. Northwestern Mutual Wealth Management Co. lifted its holdings in FedEx by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,330 shares of the shipping service provider’s stock worth $10,298,000 after acquiring an additional 2,265 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in FedEx in the second quarter valued at about $9,226,000. Finally, Creative Planning raised its position in shares of FedEx by 3.8% during the second quarter. Creative Planning now owns 70,615 shares of the shipping service provider’s stock worth $21,173,000 after purchasing an additional 2,563 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction 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 filing with the SEC, which is available at this hyperlink. In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, 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 have sold a total of 14,399 shares of company stock valued at $4,420,615 in the last three months. 8.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FDX has been the topic of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Argus upped their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.74.

FedEx Trading Up 0.5 %

FedEx stock opened at $267.55 on Monday. 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 stock has a 50-day simple moving average of $288.06 and a 200 day simple moving average of $275.67. The stock has a market capitalization of $65.84 billion, a P/E ratio of 15.53, a PEG ratio of 1.04 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the firm posted $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Dividend Announcement

The business 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 $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s dividend payout ratio (DPR) is currently 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.