Macquarie Group Ltd. Has $3.26 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Macquarie Group Ltd. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 18.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,255 shares of the shipping service provider’s stock after acquiring an additional 2,228 shares during the quarter. Macquarie Group Ltd.’s holdings in FedEx were worth $3,257,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of FedEx by 0.9% in the first quarter. Allworth Financial LP now owns 5,236 shares of the shipping service provider’s stock valued at $1,196,000 after purchasing an additional 45 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of FedEx by 1.1% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 4,098 shares of the shipping service provider’s stock valued at $936,000 after purchasing an additional 46 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of FedEx by 4.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,105 shares of the shipping service provider’s stock valued at $252,000 after purchasing an additional 46 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of FedEx by 0.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 16,651 shares of the shipping service provider’s stock valued at $2,903,000 after purchasing an additional 47 shares in the last quarter. Finally, Laraway Financial Advisors Inc boosted its stake in FedEx by 2.0% during the first quarter. Laraway Financial Advisors Inc now owns 2,490 shares of the shipping service provider’s stock worth $575,000 after buying an additional 50 shares during the period. 73.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FDX shares. Raymond James decreased their target price on FedEx from $285.00 to $280.00 in a research report on Friday, June 16th. Atlantic Securities started coverage on FedEx in a research report on Tuesday, June 6th. They set an “overweight” rating and a $265.00 target price for the company. Argus lifted their target price on FedEx from $240.00 to $260.00 in a research report on Monday, June 26th. JPMorgan Chase & Co. lifted their target price on FedEx from $228.00 to $251.00 in a research report on Wednesday, June 21st. Finally, Stephens reiterated an “overweight” rating and set a $290.00 target price on shares of FedEx in a research report on Friday, August 11th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $254.30.

Insider Activity at FedEx

In related news, VP Jennifer L. Johnson sold 10,801 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the sale, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the sale, the executive vice president now owns 22,478 shares in the company, valued at $5,886,538.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer L. Johnson sold 10,801 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The disclosure for this sale can be found here. Insiders have sold a total of 35,816 shares of company stock worth $8,822,147 over the last quarter. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $249.33 on Tuesday. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $270.95. The firm has a market capitalization of $62.71 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.23 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.33 and a current ratio of 1.37. The stock’s 50-day simple moving average is $261.00 and its 200-day simple moving average is $238.32.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The business had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.55 billion. During the same quarter in the previous year, the firm earned $6.87 earnings per share. The company’s revenue was down 10.1% on a year-over-year basis. As a group, equities analysts forecast that FedEx Co. will post 17.37 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $1.26 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a yield of 2.02%. FedEx’s dividend payout ratio is currently 32.52%.

FedEx 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.