Jacobs & Co. CA Reduces Holdings in FedEx Co. (NYSE:FDX)

Jacobs & Co. CA trimmed its position in shares of FedEx Co. (NYSE:FDX) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,112 shares of the shipping service provider’s stock after selling 397 shares during the quarter. FedEx makes up approximately 1.3% of Jacobs & Co. CA’s investment portfolio, making the stock its 29th largest position. Jacobs & Co. CA’s holdings in FedEx were worth $11,183,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. RB Capital Management LLC grew its holdings in FedEx by 3.3% in the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after buying an additional 63 shares in the last quarter. AMI Investment Management Inc. grew its holdings in FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after buying an additional 4,693 shares in the last quarter. Moors & Cabot Inc. grew its holdings in FedEx by 101.5% in the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after buying an additional 2,153 shares in the last quarter. Baird Financial Group Inc. grew its holdings in FedEx by 7.8% in the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after buying an additional 10,731 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in FedEx by 553.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after buying an additional 332 shares in the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley upped their target price on FedEx from $186.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Loop Capital lowered their price target on FedEx from $263.00 to $255.00 in a report on Thursday, June 22nd. Atlantic Securities assumed coverage on FedEx in a report on Tuesday, June 6th. They set an “overweight” rating and a $265.00 price target for the company. Evercore ISI increased their price target on FedEx from $275.00 to $276.00 in a report on Monday. Finally, Bank of America lowered their price target on FedEx from $295.00 to $290.00 in a report on Wednesday, June 21st. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $254.30.

FedEx Price Performance

FDX stock opened at $253.78 on Monday. 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 firm has a market capitalization of $63.83 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.21 and a beta of 1.36. The business’s 50-day moving average is $261.00 and its two-hundred day moving average is $238.32. FedEx Co. has a 1 year low of $141.92 and a 1 year high of $270.95.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.55 billion. During the same quarter last year, the company earned $6.87 EPS. FedEx’s revenue for the quarter was down 10.1% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 17.37 earnings per share for the current fiscal year.

FedEx Announces Dividend

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 issued a $1.26 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.99%. FedEx’s payout ratio is currently 32.52%.

Insider Activity

In other news, VP Jennifer L. Johnson sold 10,801 shares of the 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 transaction, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the transaction, the executive vice president now owns 22,478 shares in the company, valued at approximately $5,886,538.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer L. Johnson sold 10,801 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,816 shares of company stock worth $8,822,147. 8.73% of the stock is currently owned by insiders.

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.