AMI Investment Management Inc. cut its position in shares of FedEx Co. (NYSE:FDX – Free Report) by 0.6% during the 1st quarter, Holdings Channel reports. The firm owned 16,108 shares of the shipping service provider’s stock after selling 99 shares during the quarter. FedEx comprises 1.7% of AMI Investment Management Inc.’s portfolio, making the stock its 21st biggest holding. AMI Investment Management Inc.’s holdings in FedEx were worth $3,681,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Lakewood Asset Management LLC bought a new stake in shares of FedEx during the fourth quarter worth approximately $26,000. Guardian Wealth Advisors LLC bought a new position in FedEx during the 1st quarter worth $26,000. GW&K Investment Management LLC bought a new position in FedEx during the 1st quarter worth $27,000. Horan Securities Inc. lifted its holdings in shares of FedEx by 85.7% during the first quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock worth $30,000 after buying an additional 60 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of FedEx by 1,957.1% in the first quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 137 shares during the period. 73.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on FDX shares. Raymond James cut their price objective on shares of FedEx from $285.00 to $280.00 in a report on Friday, June 16th. Atlantic Securities initiated coverage on FedEx in a research report on Tuesday, June 6th. They issued an “overweight” rating and a $265.00 price target on the stock. Loop Capital reduced their price objective on shares of FedEx from $263.00 to $255.00 in a research note on Thursday, June 22nd. Wells Fargo & Company upped their price target on shares of FedEx from $240.00 to $270.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, StockNews.com initiated coverage on shares of FedEx in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $249.50.
FedEx Stock Down 1.3 %
Shares of FDX opened at $251.47 on Wednesday. The company has a market capitalization of $63.25 billion, a PE ratio of 16.22, a PEG ratio of 1.23 and a beta of 1.36. FedEx Co. has a 12 month low of $141.92 and a 12 month high of $270.95. The stock’s 50-day moving average price is $260.68 and its two-hundred day moving average price is $237.25. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.78.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.55 billion. During the same period last year, the company posted $6.87 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 17.33 EPS for the current year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 32.52%.
Insider Transactions at FedEx
In related news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now directly owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now directly owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael C. Lenz sold 5,745 shares of the business’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 completion of the sale, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,816 shares of company stock valued at $8,822,147. Corporate insiders own 8.73% of the company’s stock.
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.
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