FedEx Co. (NYSE:FDX) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its position in FedEx Co. (NYSE:FDX) by 25.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,618 shares of the shipping service provider’s stock after selling 1,213 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in FedEx were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Precision Wealth Strategies LLC acquired a new stake in FedEx in the fourth quarter worth about $324,000. Foundations Investment Advisors LLC lifted its stake in shares of FedEx by 18.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 2,252 shares of the shipping service provider’s stock worth $545,000 after acquiring an additional 348 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of FedEx by 7.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,679 shares of the shipping service provider’s stock valued at $678,000 after acquiring an additional 179 shares in the last quarter. Haverford Trust Co increased its stake in shares of FedEx by 2.9% during the fourth quarter. Haverford Trust Co now owns 1,891 shares of the shipping service provider’s stock valued at $478,000 after acquiring an additional 54 shares during the period. Finally, Meridian Wealth Management LLC raised its holdings in FedEx by 19.2% during the fourth quarter. Meridian Wealth Management LLC now owns 1,354 shares of the shipping service provider’s stock worth $343,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.1 %

Shares of NYSE FDX opened at $286.38 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The business has a 50-day moving average price of $293.17 and a two-hundred day moving average price of $273.36. The firm has a market capitalization of $70.47 billion, a PE ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $22.04 billion. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $4.94 earnings per share. As a group, analysts predict that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling

In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Brie Carere sold 1,958 shares of the company’s 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FDX shares. UBS Group decreased their price target on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Evercore ISI lowered their target price on FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday. Robert W. Baird reissued an “outperform” rating and issued a $340.00 price target on shares of FedEx in a report on Friday. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Finally, Raymond James reduced their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. One 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. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.67.

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.