Waverly Advisors LLC Has $1.02 Million Stake in FedEx Co. (NYSE:FDX)

Waverly Advisors LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 124.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,522 shares of the shipping service provider’s stock after buying an additional 1,954 shares during the quarter. Waverly Advisors LLC’s holdings in FedEx were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC lifted its holdings in FedEx by 4.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after purchasing an additional 39 shares during the last quarter. KRS Capital Management LLC lifted its holdings in FedEx by 4.1% in the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after purchasing an additional 41 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in FedEx by 3.5% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock worth $369,000 after purchasing an additional 43 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after purchasing an additional 44 shares during the last quarter. Finally, SVB Wealth LLC lifted its holdings in FedEx by 2.5% in the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

FDX stock traded up $1.81 during trading on Tuesday, hitting $301.04. The company had a trading volume of 552,384 shares, compared to its average volume of 1,898,323. The company has a fifty day moving average price of $273.96 and a two-hundred day moving average price of $262.86. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The company has a market cap of $73.54 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.08 and a beta of 1.18. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

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

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were paid a $1.38 dividend. The ex-dividend date was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.83%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

Insiders Place Their Bets

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FDX shares. UBS Group reduced their target price on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. TD Cowen boosted their target price on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group lifted their price target on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.