Lmcg Investments LLC Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Lmcg Investments LLC increased its stake in FedEx Co. (NYSE:FDX) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,773 shares of the shipping service provider’s stock after acquiring an additional 1,053 shares during the quarter. FedEx makes up about 1.1% of Lmcg Investments LLC’s portfolio, making the stock its 17th biggest holding. Lmcg Investments LLC’s holdings in FedEx were worth $18,522,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in FedEx during the 4th quarter worth $700,291,000. Capital International Investors boosted its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the last quarter. Sentry LLC purchased a new stake in FedEx during the 4th quarter valued at about $307,007,000. Vanguard Group Inc. raised its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was 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 of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last quarter. 8.73% of the stock is owned by insiders.

FedEx Stock Up 2.2 %

Shares of NYSE:FDX opened at $292.63 on Tuesday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm’s 50 day moving average price is $293.11 and its 200 day moving average price is $274.10. 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 stock has a market cap of $72.01 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of analyst reports. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Argus boosted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Bank of America increased their price target on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group increased their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.