FedEx Co. (NYSE:FDX) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 731 shares of the shipping service provider’s stock after selling 37 shares during the quarter. Gateway Investment Advisers LLC’s holdings in FedEx were worth $219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC grew its stake in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new stake in FedEx in the 4th quarter valued at about $28,000. Rakuten Securities Inc. acquired a new stake in FedEx in the 4th quarter valued at about $30,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in FedEx in the 4th quarter valued at about $31,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is owned by corporate insiders.

FedEx Trading Down 0.4 %

FDX traded down $1.21 on Friday, reaching $277.41. 1,256,175 shares of the company’s stock were exchanged, compared to its average volume of 1,890,226. The company’s 50 day moving average is $280.96 and its 200-day moving average is $265.35. The company has a market cap of $68.27 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.08 and a beta of 1.18. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.94 EPS. Equities analysts predict that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were given a $1.38 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.99%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group upped their target price on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Stephens restated an “overweight” rating and issued a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. TD Cowen upped their target price on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Evercore ISI reduced their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx 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.