KCS Wealth Advisory increased its stake in shares of FedEx Co. (NYSE:FDX – Get Rating) by 6.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,459 shares of the shipping service provider's stock after acquiring an additional 599 shares during the period. KCS Wealth Advisory's holdings in FedEx were worth $2,144,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Transcend Capital Advisors LLC raised its position in shares of FedEx by 1.9% in the 2nd quarter. Transcend Capital Advisors LLC now owns 2,445 shares of the shipping service provider's stock valued at $554,000 after purchasing an additional 45 shares in the last quarter. HM Payson & Co. increased its holdings in shares of FedEx by 0.8% in the 4th quarter. HM Payson & Co. now owns 6,635 shares of the shipping service provider's stock valued at $1,716,000 after acquiring an additional 50 shares during the last quarter. Benson Investment Management Company Inc. increased its holdings in shares of FedEx by 0.3% in the 1st quarter. Benson Investment Management Company Inc. now owns 15,525 shares of the shipping service provider's stock valued at $3,592,000 after acquiring an additional 50 shares during the last quarter. Northstar Asset Management LLC increased its holdings in shares of FedEx by 1.6% in the 1st quarter. Northstar Asset Management LLC now owns 3,125 shares of the shipping service provider's stock valued at $723,000 after acquiring an additional 50 shares during the last quarter. Finally, 1ST Source Bank grew its stake in FedEx by 1.9% during the 1st quarter. 1ST Source Bank now owns 2,722 shares of the shipping service provider's stock worth $630,000 after buying an additional 50 shares during the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.
Get FedEx alerts:FedEx Trading Down 2.5 %
Shares of FedEx stock opened at $148.47 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.42 and a debt-to-equity ratio of 0.79. The firm has a market cap of $38.63 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The business has a fifty day simple moving average of $207.04 and a 200-day simple moving average of $213.63. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $266.79.
FedEx (NYSE:FDX – Get Rating) last announced its quarterly earnings data on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share for the quarter, missing the consensus estimate of $5.14 by ($1.70). FedEx had a net margin of 3.79% and a return on equity of 20.95%. The firm had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.78 billion. During the same quarter last year, the company earned $4.37 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 15.2 EPS for the current fiscal year.FedEx Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, September 1st. FedEx's dividend payout ratio is 33.97%.
Insider Activity
In related news, Director Vincenzo J. Vena bought 900 shares of FedEx stock in a transaction dated Wednesday, July 6th. The stock was acquired at an average cost of $230.04 per share, with a total value of $207,036.00. Following the completion of the acquisition, the director now directly owns 1,325 shares in the company, valued at approximately $304,803. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert B. Carter sold 12,310 shares of the stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the sale, the executive vice president now directly owns 54,916 shares of the company's stock, valued at approximately $12,664,178.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vincenzo J. Vena acquired 900 shares of FedEx stock in a transaction that occurred on Wednesday, July 6th. The stock was acquired at an average cost of $230.04 per share, with a total value of $207,036.00. Following the completion of the purchase, the director now owns 1,325 shares in the company, valued at approximately $304,803. The disclosure for this purchase can be found here. Insiders sold a total of 48,810 shares of company stock valued at $11,199,898 over the last three months. Insiders own 8.62% of the company's stock.
Wall Street Analysts Forecast Growth
FDX has been the subject of a number of recent research reports. Evercore ISI lowered their price objective on FedEx from $243.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, September 23rd. Wells Fargo & Company lowered their price objective on FedEx from $269.00 to $199.00 and set an "overweight" rating for the company in a research note on Friday, September 16th. Bank Of America (Bofa) downgraded FedEx from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $275.00 to $186.00 in a research note on Friday, September 16th. Deutsche Bank Aktiengesellschaft set a $320.00 price objective on FedEx in a research note on Monday, September 19th. Finally, Stifel Nicolaus downgraded FedEx from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $288.00 to $195.00 in a research note on Friday, September 16th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.50.
FedEx Company Profile
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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
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