Hobbs Group Advisors LLC Invests $70,000 in FedEx Co. (NYSE:FDX)

Hobbs Group Advisors LLC acquired a new stake in FedEx Co. (NYSE:FDX) during the second quarter, Holdings Channel reports. The fund acquired 232 shares of the shipping service provider’s stock, valued at approximately $70,000.

Several other hedge funds also recently added to or reduced their stakes in FDX. Sentry LLC purchased a new stake in FedEx in the 4th quarter valued at about $1,811,748,000. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter valued at about $700,291,000. Capital International Investors raised its stake in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Vanguard Group Inc. lifted its holdings in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in shares of FedEx by 38.1% during the 4th 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 during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on FDX shares. Argus upped their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Raymond James lowered their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Wells Fargo & Company raised their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

FedEx Stock Performance

NYSE FDX traded up $0.02 during trading on Tuesday, reaching $288.44. The company’s stock had a trading volume of 575,887 shares, compared to its average volume of 1,852,769. The business’s fifty day moving average price is $285.15 and its 200-day moving average price is $267.03. 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. The firm has a market cap of $70.98 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 return on equity of 16.70% and a net margin of 4.94%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.94 EPS. As a group, analysts anticipate that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.91%. FedEx’s dividend payout ratio is currently 32.04%.

Insiders Place Their Bets

In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by insiders.

About FedEx

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.