FedEx Co. (NYSE:FDX) Shares Purchased by Zega Financial LLC

Zega Financial LLC grew its position in FedEx Co. (NYSE:FDX) by 6.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,708 shares of the shipping service provider’s stock after purchasing an additional 102 shares during the period. Zega Financial LLC’s holdings in FedEx were worth $512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. O Brien Greene & Co. Inc raised its holdings in shares of FedEx by 0.6% during the 2nd quarter. O Brien Greene & Co. Inc now owns 17,783 shares of the shipping service provider’s stock valued at $5,332,000 after purchasing an additional 109 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of FedEx by 5.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,004 shares of the shipping service provider’s stock worth $5,904,000 after acquiring an additional 952 shares during the last quarter. Argent Trust Co increased its holdings in shares of FedEx by 1.5% during the 2nd quarter. Argent Trust Co now owns 15,875 shares of the shipping service provider’s stock worth $4,760,000 after purchasing an additional 235 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of FedEx by 4.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 74,596 shares of the shipping service provider’s stock worth $22,345,000 after acquiring an additional 3,370 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its stake in FedEx by 1.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,461 shares of the shipping service provider’s stock worth $1,637,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 1.6 %

Shares of NYSE:FDX opened at $297.36 on Wednesday. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The firm has a market capitalization of $73.17 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.03 and a beta of 1.17. The stock has a 50 day moving average price of $293.20 and a 200-day moving average price of $274.45. 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 (NYSE:FDX) last announced its quarterly earnings results 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. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the previous year, the business posted $4.94 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm 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 $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.86%. FedEx’s dividend payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Stephens reaffirmed an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. UBS Group cut their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Robert W. Baird reissued an “outperform” rating and set a $340.00 target price on shares of FedEx in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.67.

Insider Activity at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the company’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 transaction of $607,821.94. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were 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 approximately $278,293.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

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.