McKinley Carter Wealth Services Inc. Raises Stock Position in FedEx Co. (NYSE:FDX)

McKinley Carter Wealth Services Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 5.6% during the second quarter, Holdings Channel reports. The firm owned 10,277 shares of the shipping service provider’s stock after purchasing an additional 545 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in FedEx were worth $1,687,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sageworth Trust Co purchased a new stake in shares of FedEx during the second quarter worth approximately $25,000. Covenant Multifamily Offices LLC purchased a new stake in shares of FedEx during the first quarter worth approximately $29,000. Evolution Wealth Advisors LLC purchased a new stake in shares of FedEx during the first quarter worth approximately $31,000. Endurance Wealth Management Inc. increased its stake in shares of FedEx by 375.0% during the first quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock worth $34,000 after buying an additional 150 shares during the period. Finally, Nelson Roberts Investment Advisors LLC purchased a new stake in shares of FedEx during the second quarter worth approximately $34,000. Institutional investors own 68.64% of the company’s stock.

In other FedEx news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the transaction, the executive vice president now owns 68,446 shares in the company, valued at $12,031,437.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.



FDX has been the topic of a number of recent research reports. Bank of America cut their target price on shares of FedEx from $188.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Citigroup cut their target price on shares of FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Goldman Sachs Group initiated coverage on shares of FedEx in a research note on Wednesday, July 10th. They set a “buy” rating and a $200.00 target price on the stock. Loop Capital cut their target price on shares of FedEx from $262.00 to $220.00 in a research note on Wednesday, June 26th. Finally, TheStreet downgraded FedEx from a “b-” rating to a “c+” rating in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $191.63.

NYSE:FDX traded up $3.18 during trading hours on Friday, hitting $156.00. The company’s stock had a trading volume of 1,536,200 shares, compared to its average volume of 2,030,355. The business’s 50-day moving average is $164.88 and its two-hundred day moving average is $173.86. The company has a market capitalization of $39.86 billion, a PE ratio of 10.05, a PEG ratio of 0.83 and a beta of 1.65. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45. FedEx Co. has a 52-week low of $150.68 and a 52-week high of $259.25.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.93 by $0.08. The firm had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. FedEx’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.91 earnings per share. As a group, analysts predict that FedEx Co. will post 14.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.67%. FedEx’s payout ratio is 16.75%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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