PFG Investments LLC Sells 3,918 Shares of FedEx Co. (NYSE:FDX)

PFG Investments LLC cut its holdings in FedEx Co. (NYSE:FDX) by 45.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,632 shares of the shipping service provider’s stock after selling 3,918 shares during the quarter. PFG Investments LLC’s holdings in FedEx were worth $1,389,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its stake in FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in FedEx in the first quarter valued at about $1,667,000. Allegheny Financial Group LTD acquired a new stake in FedEx in the first quarter valued at about $203,000. Hilltop National Bank acquired a new stake in FedEx in the first quarter valued at about $476,000. Finally, Csenge Advisory Group boosted its stake in FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after buying an additional 298 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FDX. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. Wells Fargo & Company lifted their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. UBS Group cut their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Stifel Nicolaus reissued a “buy” rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Finally, StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $313.96.

FedEx Trading Up 0.6 %

Shares of FDX stock opened at $283.30 on Tuesday. The company has a market cap of $69.71 billion, a P/E ratio of 16.44, a PEG ratio of 1.03 and a beta of 1.17. The stock has a 50 day simple moving average of $293.94 and a two-hundred day simple moving average of $272.59. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $4.94 earnings per share. Research analysts forecast that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. FedEx’s dividend payout ratio is 32.04%.

Insider Activity

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last quarter. 8.73% of the stock is currently owned by corporate insiders.

FedEx Company 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.