FedEx Co. (NYSE:FDX) Stock Holdings Increased by Advisory Services Network LLC

Advisory Services Network LLC boosted its position in FedEx Co. (NYSE:FDX) by 0.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 26,730 shares of the shipping service provider’s stock after buying an additional 39 shares during the period. Advisory Services Network LLC’s holdings in FedEx were worth $7,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in FedEx in the fourth quarter valued at about $25,000. Fortis Group Advisors LLC increased its holdings in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in FedEx in the fourth quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new stake in FedEx in the fourth quarter valued at about $30,000. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

NYSE:FDX traded down $0.34 during midday trading on Friday, hitting $299.20. 283,492 shares of the stock were exchanged, compared to its average volume of 1,921,977. FedEx Co. has a one year low of $224.69 and a one year high of $302.41. The company has a market capitalization of $73.63 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.06 and a beta of 1.18. The business has a 50-day moving average price of $263.50 and a two-hundred day moving average price of $258.20. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.94 earnings per share. Sell-side analysts predict that FedEx Co. will post 20.94 EPS for the current year.

FedEx declared that its board has approved a stock repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date was Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total value of $758,826.90. Following the transaction, the director now owns 6,955 shares of the company’s stock, valued at $2,081,909.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $758,826.90. Following the sale, the director now directly owns 6,955 shares of the company’s stock, valued at approximately $2,081,909.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $407,564.99. Following the sale, the director now directly owns 35,183 shares in the company, valued at $10,474,330.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,565 shares of company stock valued at $6,662,844. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Bank of America lifted their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Morgan Stanley lifted their target price on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. BNP Paribas restated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. Wells Fargo & Company lifted their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Argus lifted their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

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.