LPL Financial LLC Buys 9,234 Shares of FedEx Co. (NYSE:FDX)

LPL Financial LLC increased its stake in FedEx Co. (NYSE:FDX) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,295 shares of the shipping service provider’s stock after purchasing an additional 9,234 shares during the period. LPL Financial LLC owned approximately 0.12% of FedEx worth $85,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its position 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 purchasing an additional 5,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of FedEx during the 1st quarter worth about $1,667,000. Allegheny Financial Group LTD bought a new position in shares of FedEx in the 1st quarter valued at about $203,000. Hilltop National Bank acquired a new stake in shares of FedEx in the first quarter valued at about $476,000. Finally, Csenge Advisory Group raised its holdings in FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $340.00 price target on shares of FedEx in a research report on Friday. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. UBS Group decreased their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Bank of America boosted their price objective on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.67.

Insider Buying and Selling

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

FedEx Stock Up 0.1 %

FDX stock opened at $286.38 on Friday. The firm has a 50-day moving average price of $293.17 and a 200-day moving average price of $273.36. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $70.47 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the company earned $4.94 EPS. FedEx’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. FedEx’s payout ratio is 32.04%.

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.