Stratos Wealth Partners LTD. cut its stake in FedEx Co. (NYSE:FDX) by 15.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,011 shares of the shipping service provider’s stock after selling 2,188 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in FedEx were worth $1,684,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Parnassus Investments CA grew its stake in FedEx by 47.0% in the first quarter. Parnassus Investments CA now owns 6,136,330 shares of the shipping service provider’s stock worth $744,091,000 after purchasing an additional 1,960,883 shares in the last quarter. Invesco Ltd. grew its stake in FedEx by 212.2% in the first quarter. Invesco Ltd. now owns 2,116,047 shares of the shipping service provider’s stock worth $256,592,000 after purchasing an additional 1,438,225 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in FedEx in the first quarter worth about $10,618,000. BlackRock Inc. grew its stake in FedEx by 3.9% in the first quarter. BlackRock Inc. now owns 17,395,107 shares of the shipping service provider’s stock worth $2,109,329,000 after purchasing an additional 645,024 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in FedEx by 73.7% in the first quarter. Wellington Management Group LLP now owns 1,112,398 shares of the shipping service provider’s stock worth $134,890,000 after purchasing an additional 472,092 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors.
In related news, Director Marvin R. Ellison purchased 2,200 shares of the company’s stock in a transaction on Wednesday, July 22nd. The shares were bought at an average price of $164.53 per share, with a total value of $361,966.00. Following the completion of the acquisition, the director now owns 4,401 shares of the company’s stock, valued at $724,096.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick W. Smith sold 155,750 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $117.71, for a total value of $18,333,332.50. The disclosure for this sale can be found here. Insiders sold 196,550 shares of company stock worth $24,818,258 in the last ninety days. 8.44% of the stock is owned by corporate insiders.
NYSE FDX opened at $168.40 on Friday. The stock has a market capitalization of $45.24 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.44 and a beta of 1.32. FedEx Co. has a 1 year low of $88.69 and a 1 year high of $176.25. The business’s fifty day moving average is $151.03 and its two-hundred day moving average is $136.84. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.53 and a current ratio of 1.58.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $1.11. The company had revenue of $17.36 billion for the quarter, compared to analysts’ expectations of $16.54 billion. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.01 earnings per share. On average, research analysts forecast that FedEx Co. will post 10.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Monday, June 29th were issued a $0.65 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.60 annualized dividend and a dividend yield of 1.54%. FedEx’s dividend payout ratio is currently 27.37%.
A number of brokerages have commented on FDX. Deutsche Bank lifted their target price on FedEx from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. BofA Securities lifted their target price on FedEx from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating and set a $135.00 target price for the company. in a research note on Tuesday, April 28th. Raymond James lifted their target price on FedEx from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Robert W. Baird lifted their price target on FedEx from $140.00 to $162.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $161.08.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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