Brookstone Capital Management Raises Stake in FedEx Co. (NYSE:FDX)

Brookstone Capital Management boosted its holdings in FedEx Co. (NYSE:FDXGet Rating) by 51.0% during the second quarter, Holdings Channel.com reports. The firm owned 8,582 shares of the shipping service provider’s stock after acquiring an additional 2,900 shares during the quarter. Brookstone Capital Management’s holdings in FedEx were worth $1,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. Holloway Wealth Management LLC bought a new position in FedEx during the 1st quarter valued at approximately $29,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of FedEx in the 1st quarter worth about $35,000. Byrne Asset Management LLC bought a new position in FedEx in the 4th quarter worth about $36,000. Rockbridge Investment Management LCC grew its position in FedEx by 344.1% during the 4th quarter. Rockbridge Investment Management LCC now owns 151 shares of the shipping service provider’s stock valued at $39,000 after purchasing an additional 117 shares during the last quarter. Finally, Worth Asset Management LLC bought a new stake in FedEx during the 1st quarter valued at about $41,000. Institutional investors own 71.62% of the company’s stock.

Insider Activity at FedEx

In related news, Director Amy B. Lane acquired 607 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was acquired at an average cost of $228.12 per share, with a total value of $138,468.84. Following the acquisition, the director now directly owns 686 shares in the company, valued at approximately $156,490.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Vincenzo J. Vena purchased 900 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was bought at an average cost of $230.04 per share, with a total value of $207,036.00. Following the completion of the purchase, the director now owns 1,325 shares in the company, valued at $304,803. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy B. Lane acquired 607 shares of FedEx stock in a transaction on Thursday, June 30th. The stock was purchased at an average cost of $228.12 per share, for a total transaction of $138,468.84. Following the purchase, the director now owns 686 shares in the company, valued at $156,490.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 48,810 shares of company stock valued at $11,199,898. 8.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America downgraded shares of FedEx from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $275.00 to $186.00 in a research note on Friday, September 16th. The Goldman Sachs Group cut their target price on FedEx from $288.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, September 16th. KeyCorp boosted their price target on FedEx from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, June 30th. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a report on Monday. Finally, Evercore ISI reduced their price target on shares of FedEx from $318.00 to $243.00 and set an “outperform” rating for the company in a research note on Friday, September 16th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.30.

FedEx Price Performance

NYSE FDX opened at $157.40 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. FedEx Co. has a 12 month low of $155.00 and a 12 month high of $266.79. The stock has a market cap of $40.91 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.58 and a beta of 1.21. The company’s 50 day moving average is $219.92 and its two-hundred day moving average is $217.63.

FedEx (NYSE:FDXGet Rating) last announced its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing the consensus estimate of $6.91 by ($0.04). The firm had revenue of $24.39 billion for the quarter, compared to the consensus estimate of $24.28 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. During the same quarter in the previous year, the business earned $5.01 earnings per share. As a group, research analysts anticipate that FedEx Co. will post 23 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, September 1st. FedEx’s dividend payout ratio is currently 32.17%.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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