Redhawk Wealth Advisors Inc. Has $692,000 Stake in FedEx Co. (NYSE:FDX)

Redhawk Wealth Advisors Inc. lifted its stake in FedEx Co. (NYSE:FDX) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,528 shares of the shipping service provider’s stock after purchasing an additional 153 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in FedEx were worth $692,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of FedEx during the third quarter worth $97,000. Matrix Asset Advisors Inc. NY raised its holdings in FedEx by 0.4% during the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 50,047 shares of the shipping service provider’s stock worth $13,697,000 after purchasing an additional 216 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in FedEx by 5.2% during the 3rd quarter. Fiduciary Financial Group LLC now owns 1,565 shares of the shipping service provider’s stock valued at $409,000 after purchasing an additional 77 shares during the period. Wynn Capital LLC grew its position in shares of FedEx by 1.6% during the 3rd quarter. Wynn Capital LLC now owns 7,042 shares of the shipping service provider’s stock worth $1,927,000 after buying an additional 109 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in FedEx by 32.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 16,196 shares of the shipping service provider’s stock valued at $4,430,000 after acquiring an additional 3,990 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 1.2 %

Shares of FedEx stock opened at $267.51 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business has a fifty day simple moving average of $280.77 and a two-hundred day simple moving average of $275.24. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a market capitalization of $65.83 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.55 EPS. Research analysts forecast that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. FedEx’s payout ratio is presently 32.04%.

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. Susquehanna decreased their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. UBS Group cut their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Citigroup began coverage on shares of FedEx in a research report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.17.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.73% of the stock is currently owned by corporate insiders.

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.