Jacobs & Co. CA Sells 22,911 Shares of FedEx Corporation $FDX

Jacobs & Co. CA reduced its position in shares of FedEx Corporation (NYSE:FDX) by 55.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,614 shares of the shipping service provider’s stock after selling 22,911 shares during the quarter. Jacobs & Co. CA’s holdings in FedEx were worth $5,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares during the last quarter. Empowered Funds LLC grew its holdings in FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after buying an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new position in FedEx in the 2nd quarter worth approximately $586,000. Quantbot Technologies LP bought a new position in FedEx in the 2nd quarter worth approximately $186,000. Finally, Jump Financial LLC acquired a new position in shares of FedEx during the second quarter worth approximately $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. Rothschild & Co Redburn lowered their price objective on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Stifel Nicolaus reduced their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group began coverage on shares of FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Up 0.9%

NYSE FDX opened at $318.64 on Friday. FedEx Corporation has a 1-year low of $176.00 and a 1-year high of $345.36. The company has a market capitalization of $75.39 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.64 and a beta of 1.30. The stock’s 50 day moving average is $319.48 and its two-hundred day moving average is $350.25. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.