Accredited Investors Inc. Sells 67 Shares of FedEx Co. (NYSE:FDX)

Accredited Investors Inc. trimmed its position in shares of FedEx Co. (NYSE:FDX) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 797 shares of the shipping service provider’s stock after selling 67 shares during the period. Accredited Investors Inc.’s holdings in FedEx were worth $239,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of FedEx by 5.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 98,048 shares of the shipping service provider’s stock valued at $29,399,000 after purchasing an additional 4,676 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of FedEx by 6.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 4,849 shares of the shipping service provider’s stock valued at $1,454,000 after purchasing an additional 285 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in shares of FedEx by 4.1% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 11,296 shares of the shipping service provider’s stock valued at $3,387,000 after purchasing an additional 441 shares during the period. Chapin Davis Inc. lifted its stake in shares of FedEx by 5.6% in the 2nd quarter. Chapin Davis Inc. now owns 4,808 shares of the shipping service provider’s stock valued at $1,442,000 after purchasing an additional 253 shares during the period. Finally, OFI Invest Asset Management lifted its stake in shares of FedEx by 685.5% in the 2nd quarter. OFI Invest Asset Management now owns 1,461 shares of the shipping service provider’s stock valued at $409,000 after purchasing an additional 1,275 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FDX has been the topic of several research analyst reports. Bank of America raised their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. StockNews.com upgraded FedEx from a “buy” rating to a “strong-buy” rating in a report on Friday. Robert W. Baird increased their target price on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Finally, Wells Fargo & Company increased their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Stock Performance

NYSE:FDX traded down $0.59 during mid-day trading on Tuesday, hitting $287.83. The stock had a trading volume of 14,451 shares, compared to its average volume of 1,849,260. The company’s 50 day simple moving average is $285.15 and its 200 day simple moving average is $267.03. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 16.74, 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.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business posted $4.94 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.92%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insiders Place Their Bets

In other news, CAO Guy M. Erwin II sold 116 shares of FedEx 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 directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Robert B. Carter sold 16,010 shares of FedEx 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 directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Guy M. Erwin II sold 116 shares of FedEx 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 owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last three months. Insiders own 8.73% of the company’s stock.

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.