Ellerson Group Inc. ADV Has $5.43 Million Stake in FedEx Co. (NYSE:FDX)

Ellerson Group Inc. ADV lessened its stake in shares of FedEx Co. (NYSE:FDX) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,117 shares of the shipping service provider’s stock after selling 445 shares during the period. FedEx accounts for approximately 4.1% of Ellerson Group Inc. ADV’s holdings, making the stock its 5th biggest position. Ellerson Group Inc. ADV’s holdings in FedEx were worth $5,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gryphon Financial Partners LLC bought a new position in shares of FedEx in the 2nd quarter valued at about $236,000. Daiwa Securities Group Inc. lifted its holdings in shares of FedEx by 7.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 25,487 shares of the shipping service provider’s stock valued at $7,642,000 after acquiring an additional 1,849 shares during the last quarter. Hiddenite Capital Partners LP bought a new position in shares of FedEx in the 2nd quarter valued at about $1,949,000. First Interstate Bank lifted its holdings in shares of FedEx by 0.9% in the 2nd quarter. First Interstate Bank now owns 6,826 shares of the shipping service provider’s stock valued at $2,047,000 after acquiring an additional 58 shares during the last quarter. Finally, Sachetta LLC lifted its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.6 %

FDX opened at $283.30 on Tuesday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $293.94 and a 200 day moving average price of $272.59. The company has a market cap of $69.71 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the prior year, the firm earned $4.94 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid 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 1.95%. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FDX shares. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and increased their price target for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Raymond James reduced their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. The Goldman Sachs Group increased their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Morgan Stanley increased their price objective on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Finally, Evercore ISI reduced their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. One research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.96.

Insider Activity at FedEx

In related news, 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 sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Guy M. Erwin II sold 116 shares of the 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 owns 930 shares of the company’s stock, valued at approximately $278,293.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the 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 sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate 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.