GAMMA Investing LLC Boosts Stock Holdings in FedEx Co. (NYSE:FDX)

GAMMA Investing LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 45.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,897 shares of the shipping service provider’s stock after buying an additional 593 shares during the quarter. GAMMA Investing LLC’s holdings in FedEx were worth $569,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fortis Group Advisors LLC boosted 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 valued at $25,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new position in FedEx during the 4th quarter valued at about $25,000. Private Wealth Management Group LLC purchased a new stake in FedEx in the fourth quarter valued at about $28,000. Rakuten Securities Inc. acquired a new stake in FedEx in the fourth quarter worth about $30,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of FedEx during the fourth quarter valued at about $31,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were 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 in the company, valued at approximately $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, 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. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Down 1.9 %

Shares of NYSE:FDX traded down $5.53 during trading on Friday, hitting $292.30. The company’s stock had a trading volume of 2,252,729 shares, compared to its average volume of 1,523,840. The company has a market capitalization of $71.93 billion, a PE ratio of 16.96, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The business has a 50 day moving average price of $277.79 and a two-hundred day moving average price of $264.32.

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

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research reports. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Stephens reaffirmed an “overweight” rating and issued a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Finally, Argus lifted their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Company Profile

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.