1,654 Shares in FedEx Co. (NYSE:FDX) Bought by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC bought a new position in shares of FedEx Co. (NYSE:FDX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,654 shares of the shipping service provider’s stock, valued at approximately $496,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC grew its position in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC bought a new stake in shares of FedEx during the fourth quarter worth $25,000. Private Wealth Management Group LLC acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Sachetta LLC acquired a new stake in shares of FedEx during the fourth quarter worth $32,000. Finally, Northwest Financial Advisors bought a new stake in FedEx in the 4th quarter valued at $33,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was 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 owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by company insiders.

FedEx Trading Down 0.8 %

Shares of NYSE:FDX opened at $294.97 on Wednesday. The stock has a market cap of $72.59 billion, a PE ratio of 17.12, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The business has a 50 day moving average of $289.60 and a 200-day moving average of $268.88.

FedEx (NYSE:FDX) last released 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 business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period last 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, equities research analysts forecast that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Dividend Announcement

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 paid a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analyst Ratings Changes

Several analysts have issued reports on FDX shares. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Bank of America boosted their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Argus boosted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Robert W. Baird increased their target price on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

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.