FedEx Co. (NYSE:FDX) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lowered its position in FedEx Co. (NYSE:FDX) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,261 shares of the shipping service provider’s stock after selling 124 shares during the quarter. FedEx accounts for 1.4% of Romano Brothers AND Company’s investment portfolio, making the stock its 13th biggest position. Romano Brothers AND Company’s holdings in FedEx were worth $9,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of FedEx by 0.9% in the 1st quarter. Allworth Financial LP now owns 5,236 shares of the shipping service provider’s stock valued at $1,196,000 after acquiring an additional 45 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of FedEx by 1.1% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 4,098 shares of the shipping service provider’s stock valued at $936,000 after acquiring an additional 46 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of FedEx by 4.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,105 shares of the shipping service provider’s stock valued at $252,000 after acquiring an additional 46 shares during the period. Salem Investment Counselors Inc. raised its position in shares of FedEx by 0.3% in the 4th 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 period. Finally, Foster Group Inc. raised its position in shares of FedEx by 1.1% in the 2nd quarter. Foster Group Inc. now owns 4,291 shares of the shipping service provider’s stock valued at $1,064,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of FedEx from $186.00 to $200.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Citigroup increased their price target on shares of FedEx from $285.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, September 11th. Stifel Nicolaus raised their target price on shares of FedEx from $259.00 to $288.00 in a report on Wednesday, July 26th. Loop Capital dropped their target price on shares of FedEx from $263.00 to $255.00 in a report on Thursday, June 22nd. Finally, Argus raised their target price on shares of FedEx from $240.00 to $260.00 in a report on Monday, June 26th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.30.

Insiders Place Their Bets

In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of FedEx stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the completion of the transaction, the vice president now directly owns 3,196 shares of the company’s stock, valued at $762,597.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, 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 owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 35,816 shares of company stock valued at $8,822,147 over the last ninety days. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Down 1.2 %

Shares of NYSE:FDX traded down $2.87 during midday trading on Tuesday, hitting $246.43. The stock had a trading volume of 830,809 shares, compared to its average volume of 1,943,994. 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 business’s 50-day simple moving average is $261.00 and its 200-day simple moving average is $238.32. FedEx Co. has a 12 month low of $141.92 and a 12 month high of $270.95. The company has a market cap of $61.98 billion, a P/E ratio of 16.09, a PEG ratio of 1.22 and a beta of 1.36.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.55 billion. During the same period in the previous year, the business posted $6.87 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx Co. will post 17.38 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $1.26 per share. The ex-dividend date is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a yield of 2.05%. FedEx’s dividend payout ratio (DPR) is 32.52%.

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.