Sheaff Brock Investment Advisors LLC Increases Holdings in FedEx Co. (NYSE:FDX)

Sheaff Brock Investment Advisors LLC grew its holdings in FedEx Co. (NYSE:FDXGet Rating) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,205 shares of the shipping service provider’s stock after acquiring an additional 55 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in FedEx were worth $510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Graypoint LLC boosted its holdings in shares of FedEx by 16.0% in the 1st quarter. Graypoint LLC now owns 1,897 shares of the shipping service provider’s stock valued at $439,000 after buying an additional 261 shares in the last quarter. Value Partners Investments Inc. boosted its stake in FedEx by 21.5% in the first quarter. Value Partners Investments Inc. now owns 306,203 shares of the shipping service provider’s stock valued at $70,826,000 after acquiring an additional 54,116 shares in the last quarter. Veriti Management LLC grew its holdings in shares of FedEx by 22.5% during the first quarter. Veriti Management LLC now owns 3,343 shares of the shipping service provider’s stock worth $774,000 after purchasing an additional 614 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of FedEx by 16.2% during the first quarter. Kestra Advisory Services LLC now owns 30,207 shares of the shipping service provider’s stock worth $6,990,000 after purchasing an additional 4,220 shares in the last quarter. Finally, Garrett Investment Advisors LLC boosted its position in shares of FedEx by 27.2% in the 1st quarter. Garrett Investment Advisors LLC now owns 1,510 shares of the shipping service provider’s stock valued at $349,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 79.92% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the transaction, the executive vice president now owns 54,916 shares of the company’s stock, valued at approximately $12,664,178.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Amy B. Lane bought 607 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was purchased at an average price of $228.12 per share, with a total value of $138,468.84. Following the purchase, the director now owns 686 shares of the company’s stock, valued at approximately $156,490.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total transaction of $2,838,809.10. Following the completion of the transaction, the executive vice president now directly owns 54,916 shares of the company’s stock, valued at approximately $12,664,178.76. The disclosure for this sale can be found here. Insiders have sold 31,955 shares of company stock worth $7,296,828 in the last three months. Corporate insiders own 8.16% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $236.10 on Friday. FedEx Co. has a 52 week low of $192.82 and a 52 week high of $282.88. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $226.01 and its 200 day simple moving average is $222.03. The firm has a market capitalization of $61.35 billion, a PE ratio of 16.51, a P/E/G ratio of 0.84 and a beta of 1.19.

FedEx (NYSE:FDXGet Rating) last released its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing the consensus estimate of $6.91 by ($0.04). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The business had revenue of $24.39 billion during the quarter, compared to analysts’ expectations of $24.28 billion. During the same quarter in the prior year, the firm earned $5.01 earnings per share. On average, equities research analysts predict that FedEx Co. will post 23.16 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Monday, June 27th were given a $1.15 dividend. The ex-dividend date was Friday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $0.75. This represents a $4.60 annualized dividend and a dividend yield of 1.95%. FedEx’s payout ratio is currently 32.17%.

Analyst Upgrades and Downgrades

Several research analysts have commented on FDX shares. Bank of America lifted their price target on FedEx from $276.00 to $287.00 in a research report on Thursday, June 30th. KeyCorp raised their price target on FedEx from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, June 30th. Wells Fargo & Company upped their price objective on FedEx from $277.00 to $282.00 and gave the company an “overweight” rating in a research note on Friday, June 24th. Morgan Stanley lifted their target price on FedEx from $245.00 to $255.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 5th. Finally, Barclays set a $320.00 price objective on shares of FedEx in a research note on Friday, June 24th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $297.50.

FedEx Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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