FedEx Co. (NYSE:FDX) Position Boosted by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lifted its stake in FedEx Co. (NYSE:FDX) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,150 shares of the shipping service provider’s stock after purchasing an additional 3,570 shares during the quarter. Letko Brosseau & Associates Inc. owned 0.06% of FedEx worth $44,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Precision Wealth Strategies LLC acquired a new position in shares of FedEx in the fourth quarter worth $324,000. Spire Wealth Management raised its stake in shares of FedEx by 3.2% during the 4th quarter. Spire Wealth Management now owns 1,506 shares of the shipping service provider’s stock worth $371,000 after purchasing an additional 46 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of FedEx by 25.1% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,787 shares of the shipping service provider’s stock valued at $452,000 after buying an additional 358 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of FedEx by 11.5% in the 4th quarter. Apollon Wealth Management LLC now owns 3,482 shares of the shipping service provider’s stock valued at $881,000 after buying an additional 360 shares in the last quarter. Finally, Montag A & Associates Inc. grew its stake in shares of FedEx by 122.5% in the 4th quarter. Montag A & Associates Inc. now owns 454 shares of the shipping service provider’s stock valued at $115,000 after buying an additional 250 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Argus increased their price target on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. TD Cowen assumed coverage on FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price objective on the stock. UBS Group decreased their target price on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $313.96.

FedEx Stock Performance

FDX stock traded down $2.27 during midday trading on Friday, hitting $283.04. The stock had a trading volume of 1,117,464 shares, compared to its average volume of 1,787,930. FedEx Co. has a 52 week low of $224.69 and a 52 week 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 50-day simple moving average of $294.25 and a 200 day simple moving average of $271.87. The firm has a market capitalization of $69.65 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share 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 for the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the previous year, the business earned $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 20.87 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s payout ratio is presently 32.04%.

Insider Transactions at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by 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.