Cambridge Investment Research Advisors Inc. Sells 2,723 Shares of FedEx Co. (NYSE:FDX)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 4.5% in the second quarter, Holdings Channel reports. The firm owned 57,986 shares of the shipping service provider’s stock after selling 2,723 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in FedEx were worth $17,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC grew its stake in FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC grew its position in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the last quarter. Richard P Slaughter Associates Inc increased its stake in shares of FedEx by 0.4% in the second quarter. Richard P Slaughter Associates Inc now owns 8,573 shares of the shipping service provider’s stock worth $2,570,000 after purchasing an additional 38 shares during the period. Fidelis Capital Partners LLC lifted its position in shares of FedEx by 4.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after purchasing an additional 39 shares during the last quarter. Finally, Coastline Trust Co boosted its stake in FedEx by 1.0% during the 2nd quarter. Coastline Trust Co now owns 4,229 shares of the shipping service provider’s stock valued at $1,268,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $294.97 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market cap of $72.59 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company’s 50-day moving average price is $289.60 and its two-hundred day moving average price is $268.88.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $4.94 EPS. On average, equities analysts anticipate that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group dropped their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Stephens reissued an “overweight” rating and issued a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their target price for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Finally, StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $313.96.

Insider Buying and Selling 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 stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

About FedEx

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.