Stock Yards Bank & Trust Co. Sells 400 Shares of FedEx Co. (NYSE:FDX)

Stock Yards Bank & Trust Co. lessened its holdings in FedEx Co. (NYSE:FDX) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,915 shares of the shipping service provider’s stock after selling 400 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in FedEx were worth $2,073,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its position 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 buying an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new position in FedEx during the fourth quarter valued at approximately $25,000. Sachetta LLC bought a new position in FedEx in the fourth quarter valued at approximately $32,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $39,000. Finally, Security National Bank bought a new stake in shares of FedEx during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FDX. Wells Fargo & Company boosted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Evercore ISI dropped their target price on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. Morgan Stanley upped their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Finally, StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.67.

FedEx Price Performance

FedEx stock opened at $297.36 on Wednesday. The stock’s fifty day moving average price is $293.20 and its two-hundred day moving average price is $274.45. The firm has a market cap of $73.17 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. 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 Co. has a one year low of $224.69 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the firm earned $4.94 earnings per share. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid 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 (DPR) is 32.04%.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last three months. Insiders own 8.73% of the company’s stock.

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.