Sciencast Management LP Invests $762,000 in FedEx Co. (NYSE:FDX)

Sciencast Management LP purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 3,025 shares of the shipping service provider’s stock, valued at approximately $762,000.

Several other institutional investors have also bought and sold shares of the stock. Cardinal Capital Management grew its holdings in FedEx by 1.2% during the second quarter. Cardinal Capital Management now owns 14,636 shares of the shipping service provider’s stock worth $3,646,000 after buying an additional 176 shares in the last quarter. First National Bank of South Miami lifted its holdings in FedEx by 12.9% during the 2nd quarter. First National Bank of South Miami now owns 673 shares of the shipping service provider’s stock worth $167,000 after purchasing an additional 77 shares in the last quarter. Birch Capital Management LLC lifted its holdings in FedEx by 7.9% during the 2nd quarter. Birch Capital Management LLC now owns 13,725 shares of the shipping service provider’s stock worth $3,402,000 after purchasing an additional 1,008 shares in the last quarter. Northwest Investment Counselors LLC lifted its holdings in FedEx by 81.1% during the 2nd quarter. Northwest Investment Counselors LLC now owns 1,197 shares of the shipping service provider’s stock worth $297,000 after purchasing an additional 536 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of FedEx by 30.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,047 shares of the shipping service provider’s stock valued at $507,000 after acquiring an additional 478 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $250.32 on Tuesday. The firm has a market cap of $62.96 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36. 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 has a 50-day moving average price of $261.00 and a 200-day moving average price of $238.32. FedEx Co. has a twelve month low of $141.92 and a twelve month high of $270.95.

FedEx (NYSE:FDX) last posted 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. The company had revenue of $21.93 billion for 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 firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.87 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 17.38 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $1.26 dividend. The ex-dividend date is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s dividend payout ratio is currently 32.52%.

Insider Buying and Selling

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 $5,886,538.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other FedEx news, EVP Robert B. Carter sold 19,270 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael C. Lenz sold 5,745 shares of the company’s 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 in the company, valued at $5,886,538.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,816 shares of company stock worth $8,822,147. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. Stephens reissued an “overweight” rating and set a $290.00 price objective on shares of FedEx in a report on Friday, August 11th. Credit Suisse Group reduced their price target on FedEx from $273.00 to $265.00 in a research report on Wednesday, June 21st. The Goldman Sachs Group raised their price target on FedEx from $269.00 to $278.00 in a research report on Wednesday, September 13th. Sanford C. Bernstein raised their price target on FedEx from $261.00 to $284.00 in a research report on Wednesday, June 21st. Finally, UBS Group raised their price target on FedEx from $272.00 to $312.00 in a research report on Friday, September 1st. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $254.30.

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.