Fort Washington Investment Advisors Inc. OH Trims Position in FedEx Co. (NYSE:FDX)

Fort Washington Investment Advisors Inc. OH reduced its holdings in FedEx Co. (NYSE:FDX) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,480 shares of the shipping service provider’s stock after selling 339 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in FedEx were worth $42,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fortis Group Advisors LLC boosted its holdings in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $25,000. Private Wealth Management Group LLC acquired a new stake in FedEx during the fourth quarter worth about $28,000. Sachetta LLC purchased a new position in FedEx during the fourth quarter valued at approximately $32,000. Finally, Northwest Financial Advisors acquired a new position in FedEx in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FDX shares. Stephens reaffirmed an “overweight” rating and set a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Wells Fargo & Company upped their price objective on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Robert W. Baird upped their price target on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

FedEx Price Performance

Shares of NYSE:FDX traded up $2.42 during midday trading on Friday, hitting $298.67. The company had a trading volume of 1,096,914 shares, compared to its average volume of 1,804,945. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a market cap of $73.50 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The business’s 50-day simple moving average is $292.37 and its 200-day simple moving average is $269.63.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.85%. 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 sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 in the last 90 days. 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.