FedEx Co. (NYSE:FDX) Stock Holdings Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,081 shares of the shipping service provider’s stock after selling 948 shares during the period. Wedge Capital Management L L P NC’s holdings in FedEx were worth $9,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fortis Group Advisors LLC grew its position in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx during the 4th quarter worth $25,000. Private Wealth Management Group LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new position in FedEx in the 4th quarter worth about $30,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in FedEx during the fourth quarter valued at about $31,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FedEx stock traded down $2.32 during midday trading on Friday, hitting $281.86. The company had a trading volume of 184,854 shares, compared to its average volume of 1,860,314. The stock has a market cap of $69.36 billion, a PE ratio of 16.49, a P/E/G ratio of 1.08 and a beta of 1.18. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The business’s 50 day simple moving average is $283.70 and its two-hundred day simple moving average is $266.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

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, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period last year, the business posted $4.94 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The company 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. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.96%. FedEx’s dividend payout ratio is 32.04%.

Insiders Place Their Bets

In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FDX shares. Morgan Stanley boosted their price target on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Evercore ISI decreased their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. TD Cowen raised their price target on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Bank of America boosted 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. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx 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.