Northwestern Mutual Wealth Management Co. Purchases 2,265 Shares of FedEx Co. (NYSE:FDX)

Northwestern Mutual Wealth Management Co. increased its position in shares of FedEx Co. (NYSE:FDX) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,330 shares of the shipping service provider’s stock after purchasing an additional 2,265 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in FedEx were worth $10,298,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC grew its stake in FedEx by 100.0% in 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. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter valued at about $25,000. Central Valley Advisors LLC bought a new position in FedEx during the 2nd quarter worth about $39,000. Security National Bank purchased a new position in FedEx during the 4th quarter valued at about $44,000. Finally, Abound Wealth Management lifted its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on FDX shares. JPMorgan Chase & Co. decreased their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Robert W. Baird dropped their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Two investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

FedEx Price Performance

FedEx stock opened at $269.56 on Wednesday. The company’s 50 day simple moving average is $286.76 and its 200-day simple moving average is $275.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a market capitalization of $66.33 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last issued 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during 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 company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Buying and Selling

In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the transaction, the director now owns 6,955 shares in the company, valued at $2,081,909.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the sale, the director now owns 6,955 shares of the company’s stock, valued at $2,081,909.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold a total of 12,914 shares of company stock valued at $3,978,338 in the last ninety days. Company insiders own 8.73% of the company’s stock.

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.