Sunbelt Securities Inc. Boosts Stake in FedEx Co. (NYSE:FDX)

Sunbelt Securities Inc. lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 19.5% in the second quarter, HoldingsChannel.com reports. The firm owned 686 shares of the shipping service provider’s stock after acquiring an additional 112 shares during the quarter. Sunbelt Securities Inc.’s holdings in FedEx were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Scarborough Advisors LLC acquired a new stake in shares of FedEx during the fourth quarter valued at about $25,000. Fortis Group Advisors LLC increased its holdings in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter valued at approximately $39,000. Abound Wealth Management lifted its stake in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the completion of the sale, the director now directly owns 6,955 shares of the company’s stock, valued at approximately $2,081,909.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,914 shares of company stock worth $3,978,338. 8.73% of the stock is owned by insiders.

FedEx Stock Down 1.0 %

Shares of NYSE:FDX opened at $266.93 on Thursday. The firm has a 50 day simple moving average of $286.13 and a 200-day simple moving average of $275.85. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $65.69 billion, a PE ratio of 15.49, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly 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). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $4.55 earnings per share. On average, equities analysts predict that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FDX. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. The Goldman Sachs Group reduced their price target on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. BMO Capital Markets lowered their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Bank of America cut their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Raymond James decreased their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

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.