Abbot Financial Management Inc. Cuts Stake in FedEx Co. (NYSE:FDX)

Abbot Financial Management Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,759 shares of the shipping service provider’s stock after selling 125 shares during the quarter. Abbot Financial Management Inc.’s holdings in FedEx were worth $1,727,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortis Group Advisors LLC grew its stake in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in FedEx during the fourth quarter valued at about $25,000. Sachetta LLC acquired a new stake in FedEx during the fourth quarter worth about $32,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter worth about $39,000. Finally, Security National Bank purchased a new position in shares of FedEx in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FDX. Stifel Nicolaus reissued a “buy” rating and set a $327.00 target price (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Raymond James cut their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a research report on Wednesday, June 26th. TD Cowen initiated coverage on shares of FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective on the stock. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.67.

Insider Buying and Selling at FedEx

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

FedEx Price Performance

NYSE FDX opened at $292.63 on Tuesday. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm has a market capitalization of $72.01 billion, a PE ratio of 16.98, a P/E/G ratio of 1.03 and a beta of 1.17. The company’s 50 day simple moving average is $293.11 and its 200 day simple moving average is $274.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last issued 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. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $4.94 EPS. As a group, equities research analysts forecast that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) 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.