Fortis Group Advisors LLC Boosts Stake in FedEx Co. (NYSE:FDX)

Fortis Group Advisors LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 12,268.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,184 shares of the shipping service provider’s stock after buying an additional 6,134 shares during the quarter. Fortis Group Advisors LLC’s holdings in FedEx were worth $1,854,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FDX. Crossmark Global Holdings Inc. boosted its stake in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after buying an additional 5,055 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of FedEx during the first quarter worth $1,667,000. Allegheny Financial Group LTD acquired a new position in shares of FedEx during the first quarter worth about $203,000. Hilltop National Bank purchased a new position in FedEx during the first quarter worth about $476,000. Finally, Csenge Advisory Group lifted its position in FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FDX. Evercore ISI dropped their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Finally, Robert W. Baird boosted their target price on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

FedEx Stock Up 0.9 %

FDX stock traded up $2.52 during trading on Friday, reaching $298.77. The stock had a trading volume of 1,096,965 shares, compared to its average volume of 1,804,945. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $293.27 and a 200 day moving average price of $270.00. The company has a market capitalization of $73.52 billion, a P/E ratio of 17.34, a PEG ratio of 1.08 and a beta of 1.18. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping 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 business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm posted $4.94 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Announces Dividend

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. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the SEC, which is available through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction 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 owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

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.