1,624 Shares in FedEx Co. (NYSE:FDX) Purchased by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,624 shares of the shipping service provider’s stock, valued at approximately $487,000.

A number of other hedge funds have also added to or reduced their stakes in FDX. Precision Wealth Strategies LLC purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $324,000. Steward Partners Investment Advisory LLC raised its position in FedEx by 42.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,865 shares of the shipping service provider’s stock valued at $3,254,000 after purchasing an additional 3,861 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of FedEx by 6.7% in the 4th quarter. TD Asset Management Inc now owns 85,373 shares of the shipping service provider’s stock worth $21,597,000 after buying an additional 5,350 shares during the period. Stifel Financial Corp increased its stake in shares of FedEx by 1.7% during the fourth quarter. Stifel Financial Corp now owns 333,777 shares of the shipping service provider’s stock valued at $84,452,000 after buying an additional 5,689 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of FedEx in the fourth quarter valued at about $2,140,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Evercore ISI dropped their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Raymond James reduced their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

FedEx Trading Up 1.0 %

NYSE:FDX opened at $266.30 on Friday. The company has a market capitalization of $65.06 billion, a P/E ratio of 15.46, a PEG ratio of 1.04 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm has a fifty day simple moving average of $288.84 and a 200-day simple moving average of $275.28.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.07%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Buying and Selling

In other FedEx news, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the completion of the sale, the director now directly owns 35,183 shares in the company, valued at approximately $10,474,330.93. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $297.71, for a total transaction of $407,564.99. Following the sale, the director now directly owns 35,183 shares in the company, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,399 shares of company stock worth $4,420,615. 8.73% of the stock is owned by company insiders.

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.