1,100 Shares in FedEx Co. (NYSE:FDX) Purchased by Executive Wealth Management LLC

Executive Wealth Management LLC purchased a new position in FedEx Co. (NYSE:FDX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,100 shares of the shipping service provider’s stock, valued at approximately $251,000.

Several other institutional investors also recently modified their holdings of the business. ProShare Advisors LLC increased its stake in shares of FedEx by 16.9% in the 1st quarter. ProShare Advisors LLC now owns 34,721 shares of the shipping service provider’s stock worth $7,933,000 after acquiring an additional 5,027 shares in the last quarter. MONECO Advisors LLC bought a new stake in FedEx during the 1st quarter valued at about $265,000. Buckhead Capital Management LLC bought a new stake in FedEx during the 1st quarter valued at about $221,000. Summit Asset Management LLC increased its stake in FedEx by 1.1% during the 1st quarter. Summit Asset Management LLC now owns 7,514 shares of the shipping service provider’s stock valued at $1,717,000 after purchasing an additional 79 shares in the last quarter. Finally, Poplar Forest Capital LLC increased its stake in FedEx by 166.9% during the 1st quarter. Poplar Forest Capital LLC now owns 109,831 shares of the shipping service provider’s stock valued at $25,095,000 after purchasing an additional 68,679 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of FDX stock traded up $0.42 during mid-day trading on Wednesday, hitting $261.00. The company had a trading volume of 337,738 shares, compared to its average volume of 1,981,484. FedEx Co. has a 52-week low of $141.92 and a 52-week high of $270.95. The company has a market capitalization of $65.64 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.24 and a beta of 1.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.37 and a quick ratio of 1.33. The stock’s 50 day moving average price is $257.43 and its 200-day moving average price is $233.80.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.09. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.55 billion. During the same quarter in the prior year, the firm posted $6.87 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 17.3 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s payout ratio is presently 32.52%.

Analysts Set New Price Targets

A number of analysts have weighed in on FDX shares. Argus raised their price objective on shares of FedEx from $240.00 to $260.00 in a research note on Monday, June 26th. Stephens reaffirmed an “overweight” rating and set a $290.00 price target on shares of FedEx in a report on Friday, August 11th. Deutsche Bank Aktiengesellschaft raised their price target on shares of FedEx from $240.00 to $282.00 in a report on Thursday, May 18th. Evercore ISI dropped their price target on shares of FedEx from $282.00 to $275.00 in a report on Wednesday, June 21st. Finally, Atlantic Securities initiated coverage on shares of FedEx in a report on Tuesday, June 6th. They set an “overweight” rating and a $265.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.14.

Insider Transactions at FedEx

In other news, EVP Michael C. Lenz sold 5,745 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the transaction, the executive vice president now directly owns 22,478 shares in the company, valued at $5,886,538.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now directly owns 58,875 shares in the company, valued at $14,483,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael C. Lenz sold 5,745 shares of FedEx stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the sale, the executive vice president now owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,816 shares of company stock worth $8,822,147. Insiders own 8.73% of the company’s stock.

About FedEx

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.