FedEx Co. (NYSE:FDX) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. cut its holdings in FedEx Co. (NYSE:FDX) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,275 shares of the shipping service provider’s stock after selling 394 shares during the period. Focus Financial Network Inc.’s holdings in FedEx were worth $706,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors lifted its stake in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Sentry LLC acquired a new position in FedEx during the fourth quarter worth $1,811,748,000. Putnam Investments LLC lifted its stake in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Finally, Norges Bank acquired a new position in FedEx during the fourth quarter worth $700,291,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. UBS Group cut their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and increased their target price for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. StockNews.com raised FedEx from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Bank of America increased their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Stock Performance

NYSE:FDX traded up $0.02 during mid-day trading on Tuesday, reaching $288.44. The stock had a trading volume of 575,887 shares, compared to its average volume of 1,852,868. 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 firm has a market capitalization of $70.98 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. The business has a 50 day simple moving average of $285.15 and a 200 day simple moving average of $267.03.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.94 earnings per share. On average, analysts expect that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.91%. FedEx’s payout ratio is 32.04%.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. Company 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.