Valmark Advisers Inc. Boosts Holdings in FedEx Co. (NYSE:FDX)

Valmark Advisers Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,218 shares of the shipping service provider’s stock after purchasing an additional 170 shares during the quarter. Valmark Advisers Inc.’s holdings in FedEx were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FDX. Norges Bank purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $700,291,000. Capital International Investors boosted its stake in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC bought a new stake in shares of FedEx in the 4th quarter worth $307,007,000. Vanguard Group Inc. raised its stake in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Morgan Stanley lifted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $313.96.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of the 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 in the last quarter. 8.73% of the stock is currently owned by insiders.

FedEx Trading Up 0.9 %

FedEx stock opened at $298.77 on Tuesday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The firm’s 50 day moving average price is $294.11 and its 200-day moving average price is $270.91. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market cap of $72.99 billion, a P/E ratio of 17.34, a PEG ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.94 EPS. On average, equities analysts predict that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

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.