Sargent Investment Group LLC Grows Stock Holdings in FedEx Co. (NYSE:FDX)

Sargent Investment Group LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 54.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,788 shares of the shipping service provider’s stock after acquiring an additional 2,031 shares during the period. Sargent Investment Group LLC’s holdings in FedEx were worth $1,735,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter worth approximately $25,000. Fortis Group Advisors LLC raised its position in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Sachetta LLC acquired a new stake in shares of FedEx in the 4th quarter worth $32,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at about $39,000. Finally, Abound Wealth Management raised its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on FDX. Morgan Stanley lifted their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Wells Fargo & Company upped their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and raised their target price for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, Raymond James reduced their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.67.

Insiders Place Their Bets

In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction 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 stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is owned by insiders.

FedEx Stock Up 2.2 %

FDX opened at $292.63 on Tuesday. The stock has a market capitalization of $72.01 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The business has a 50-day moving average of $293.11 and a two-hundred day moving average of $274.10.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.94 earnings per share. On average, research analysts expect that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The company 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 dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis 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 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.