First Interstate Bank Purchases 58 Shares of FedEx Co. (NYSE:FDX)

First Interstate Bank lifted its position in FedEx Co. (NYSE:FDX) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,826 shares of the shipping service provider’s stock after purchasing an additional 58 shares during the quarter. First Interstate Bank’s holdings in FedEx were worth $2,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDX. Precision Wealth Strategies LLC bought a new stake in shares of FedEx during the 4th quarter valued at about $324,000. AGF Management Ltd. grew its stake in FedEx by 104.1% in the 4th quarter. AGF Management Ltd. now owns 11,401 shares of the shipping service provider’s stock worth $2,884,000 after buying an additional 5,816 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of FedEx by 141.3% in the 4th quarter. QRG Capital Management Inc. now owns 28,872 shares of the shipping service provider’s stock worth $7,304,000 after buying an additional 16,909 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of FedEx by 11.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,339 shares of the shipping service provider’s stock valued at $4,133,000 after buying an additional 1,689 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of FedEx by 7.7% during the 4th quarter. Ieq Capital LLC now owns 13,466 shares of the shipping service provider’s stock worth $3,407,000 after acquiring an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction 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 completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated 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 completion of the transaction, 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 in the last three months. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research reports. Evercore ISI lowered their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Bank of America boosted their target price on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded 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 research report on Wednesday, June 26th. UBS Group lowered their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.96.

FedEx Stock Up 0.6 %

Shares of NYSE FDX opened at $283.30 on Tuesday. The firm has a fifty day simple moving average of $293.94 and a two-hundred day simple moving average of $272.59. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. 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 market capitalization 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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the firm earned $4.94 earnings per share. FedEx’s revenue was up .8% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

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 given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

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.