Oppenheimer Asset Management Inc. Has $49.84 Million Stake in FedEx Co. (NYSE:FDX)

Oppenheimer Asset Management Inc. raised its holdings in FedEx Co. (NYSE:FDX) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 166,215 shares of the shipping service provider’s stock after acquiring an additional 616 shares during the quarter. FedEx comprises 0.6% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 27th largest position. Oppenheimer Asset Management Inc.’s holdings in FedEx were worth $49,838,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. SeaCrest Wealth Management LLC boosted its position in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC boosted its holdings in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC grew its position in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC increased its stake in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares during the last quarter. Finally, Sachetta LLC raised its position 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 period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

FDX stock opened at $286.38 on Friday. The company has a market cap of $70.47 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The business has a 50 day moving average price of $293.17 and a two-hundred day moving average price of $273.36. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FDX shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $340.00 target price on shares of FedEx in a research note on Friday. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI lowered their price target on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Morgan Stanley lifted their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.67.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred 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 directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now 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. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is currently 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.