FedEx Co. (NYSE:FDX) Shares Sold by Keel Point LLC

Keel Point LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 7.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,105 shares of the shipping service provider’s stock after selling 1,274 shares during the quarter. Keel Point LLC’s holdings in FedEx were worth $3,992,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FDX. Lakewood Asset Management LLC acquired a new position in FedEx in the fourth quarter valued at approximately $26,000. Guardian Wealth Advisors LLC purchased a new position in shares of FedEx during the 1st quarter valued at approximately $26,000. GW&K Investment Management LLC acquired a new position in shares of FedEx in the 1st quarter valued at $27,000. Horan Securities Inc. boosted its holdings in 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 holdings in FedEx by 1,957.1% during the first quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock worth $33,000 after buying an additional 137 shares in the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.5 %

Shares of FDX traded down $1.15 during midday trading on Tuesday, reaching $248.15. The company had a trading volume of 491,931 shares, compared to its average volume of 1,941,950. The firm has a 50 day simple moving average of $261.00 and a 200-day simple moving average of $238.32. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. The stock has a market cap of $62.41 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36. FedEx Co. has a 1-year low of $141.92 and a 1-year high of $270.95.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.09. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.55 billion. During the same period in the previous year, the firm earned $6.87 earnings per share. FedEx’s quarterly revenue was down 10.1% compared to the same quarter last year. Research analysts forecast that FedEx Co. will post 17.38 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FDX. Argus upped their price objective on shares of FedEx from $240.00 to $260.00 in a research report on Monday, June 26th. Robert W. Baird reiterated an “outperform” rating and set a $300.00 price target on shares of FedEx in a research report on Thursday, September 14th. Evercore ISI boosted their price objective on FedEx from $275.00 to $276.00 and gave the company an “outperform” rating in a research report on Monday. Atlantic Securities began coverage on FedEx in a research report on Tuesday, June 6th. They set an “overweight” rating and a $265.00 target price on the stock. Finally, Citigroup upped their price objective on shares of FedEx from $285.00 to $295.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $254.30.

Insider Buying and Selling

In other news, EVP Robert B. Carter sold 19,270 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 58,875 shares of the company’s stock, valued at approximately $14,483,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 accessible through this hyperlink. Also, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the transaction, the executive vice president now directly owns 58,875 shares of the company’s stock, valued at $14,483,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,816 shares of company stock worth $8,822,147. Company 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.