MidWestOne Financial Group Inc. Increases Stake in FedEx Co. (NYSE:FDX)

MidWestOne Financial Group Inc. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 43.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,221 shares of the shipping service provider’s stock after purchasing an additional 671 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in FedEx were worth $666,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Smith Thornton Advisors LLC purchased a new stake in FedEx in the second quarter valued at approximately $487,000. MBB Public Markets I LLC acquired a new position in shares of FedEx in the second quarter valued at approximately $5,205,000. Dark Forest Capital Management LP grew its holdings in FedEx by 4.7% during the second quarter. Dark Forest Capital Management LP now owns 1,180 shares of the shipping service provider’s stock worth $354,000 after acquiring an additional 53 shares during the period. Daymark Wealth Partners LLC grew its holdings in FedEx by 7.2% during the second quarter. Daymark Wealth Partners LLC now owns 10,350 shares of the shipping service provider’s stock worth $3,103,000 after acquiring an additional 692 shares during the period. Finally, Empyrean Capital Partners LP acquired a new position in FedEx during the second quarter worth $46,475,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Steiner sold 1,369 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total value of $407,564.99. Following the completion of the sale, the director now owns 35,183 shares in the company, valued at $10,474,330.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,399 shares of company stock valued at $4,420,615. Insiders own 8.73% of the company’s stock.

FedEx Trading Up 0.5 %

NYSE:FDX opened at $267.55 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $288.06 and its two-hundred day moving average is $275.53. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a market cap of $65.84 billion, a PE ratio of 15.53, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business posted $4.55 EPS. On average, analysts predict that FedEx Co. will post 19.66 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared 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. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Raymond James decreased their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Argus upped their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Robert W. Baird dropped their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

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.