Moran Wealth Management LLC decreased its position in shares of FedEx Co. (NYSE:FDX – Free Report) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,810 shares of the shipping service provider’s stock after selling 336 shares during the quarter. Moran Wealth Management LLC’s holdings in FedEx were worth $14,827,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its holdings in shares of FedEx by 10.5% during the second quarter. Gamco Investors INC. ET AL now owns 1,420 shares of the shipping service provider’s stock valued at $352,000 after buying an additional 135 shares during the last quarter. Hollencrest Capital Management grew its holdings in shares of FedEx by 144.8% during the second quarter. Hollencrest Capital Management now owns 164 shares of the shipping service provider’s stock valued at $41,000 after buying an additional 97 shares during the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $219,000. Robinson Value Management Ltd. grew its holdings in shares of FedEx by 2.4% during the second quarter. Robinson Value Management Ltd. now owns 11,438 shares of the shipping service provider’s stock valued at $2,835,000 after buying an additional 273 shares during the last quarter. Finally, Legacy Capital Group California Inc. grew its holdings in shares of FedEx by 3.0% during the second quarter. Legacy Capital Group California Inc. now owns 1,604 shares of the shipping service provider’s stock valued at $398,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.
FedEx Price Performance
Shares of FDX traded up $1.01 during trading hours on Friday, reaching $255.95. 1,231,410 shares of the stock traded hands, compared to its average volume of 1,953,706. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. FedEx Co. has a 52-week low of $162.61 and a 52-week high of $270.95. The company’s 50-day moving average price is $250.56 and its two-hundred day moving average price is $247.44. The company has a market cap of $64.35 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.18 and a beta of 1.34.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is currently 30.73%.
Analyst Ratings Changes
FDX has been the topic of several research reports. The Goldman Sachs Group raised their target price on shares of FedEx from $269.00 to $278.00 in a report on Wednesday, September 13th. Susquehanna upgraded shares of FedEx from a “neutral” rating to a “positive” rating and raised their target price for the stock from $225.00 to $315.00 in a report on Monday, October 2nd. Jefferies Financial Group raised their target price on shares of FedEx from $245.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 21st. Loop Capital raised their target price on shares of FedEx from $255.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 22nd. Finally, Bank of America raised their target price on shares of FedEx from $309.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.54.
Insiders Place Their Bets
In other FedEx news, VP Jennifer L. Johnson sold 13,348 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $258.25, for a total value of $3,447,121.00. Following the sale, the vice president now owns 3,428 shares in the company, valued at approximately $885,281. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.73% of the company’s stock.
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.
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