FedEx Co. (NYSE:FDX) Shares Sold by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC reduced its stake in FedEx Co. (NYSE:FDX) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,337 shares of the shipping service provider’s stock after selling 329 shares during the quarter. Ameritas Advisory Services LLC’s holdings in FedEx were worth $2,200,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in FedEx during the fourth quarter worth $25,000. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in FedEx during the 4th quarter valued at about $28,000. Sachetta LLC acquired a new position in FedEx in the 4th quarter valued at about $32,000. Finally, Central Valley Advisors LLC purchased a new stake in FedEx during the second quarter worth about $39,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Raymond James dropped their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Morgan Stanley upped their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Bank of America lifted their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, TD Cowen initiated coverage on FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $313.96.

Insider Activity at FedEx

In other FedEx news, 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 transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’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 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 a total of 32,944 shares of company stock worth $9,882,355 in the last three months. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX remained flat at $296.13 on Thursday. 729,954 shares of the stock were exchanged, compared to its average volume of 1,809,055. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a market cap of $72.87 billion, a PE ratio of 17.19, a P/E/G ratio of 1.08 and a beta of 1.18. The business has a 50-day moving average price of $291.50 and a 200-day moving average price of $269.44. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued 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. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm posted $4.94 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts forecast that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

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.