Parkside Investments LLC Has $9.06 Million Position in FedEx Co. (NYSE:FDX)

Parkside Investments LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,546 shares of the shipping service provider’s stock after selling 4,333 shares during the period. FedEx comprises approximately 1.7% of Parkside Investments LLC’s portfolio, making the stock its 23rd largest position. Parkside Investments LLC’s holdings in FedEx were worth $9,060,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of FedEx by 0.9% in the first quarter. Allworth Financial LP now owns 5,236 shares of the shipping service provider’s stock worth $1,196,000 after purchasing an additional 45 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of FedEx by 1.1% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 4,098 shares of the shipping service provider’s stock valued at $936,000 after buying an additional 46 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of FedEx by 4.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,105 shares of the shipping service provider’s stock worth $252,000 after acquiring an additional 46 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in FedEx by 0.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 16,651 shares of the shipping service provider’s stock valued at $2,903,000 after acquiring an additional 47 shares during the last quarter. Finally, Laraway Financial Advisors Inc increased its position in FedEx by 2.0% during the 1st quarter. Laraway Financial Advisors Inc now owns 2,490 shares of the shipping service provider’s stock valued at $575,000 after purchasing an additional 50 shares during the period. 73.61% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of FDX stock traded down $2.09 during trading on Friday, hitting $254.94. The company’s stock had a trading volume of 509,228 shares, compared to its average volume of 1,942,192. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.78. The company has a market cap of $64.12 billion, a PE ratio of 16.58, a P/E/G ratio of 1.21 and a beta of 1.36. The business has a fifty day moving average of $260.76 and a 200-day moving average of $237.35. FedEx Co. has a 52 week low of $141.92 and a 52 week high of $270.95.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.87 EPS. As a group, research analysts anticipate that FedEx Co. will post 17.37 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s payout ratio is 32.52%.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of FedEx from $186.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Bank of America dropped their price objective on FedEx from $295.00 to $290.00 in a research note on Wednesday, June 21st. Evercore ISI decreased their target price on FedEx from $282.00 to $275.00 in a research note on Wednesday, June 21st. Raymond James dropped their price target on FedEx from $285.00 to $280.00 in a research note on Friday, June 16th. Finally, UBS Group lifted their price objective on shares of FedEx from $272.00 to $312.00 in a research note on Friday, September 1st. 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 stock presently has an average rating of “Moderate Buy” and an average target price of $251.82.

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.