FedEx Co. (NYSE:FDX) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 41.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,282 shares of the shipping service provider’s stock after acquiring an additional 667 shares during the quarter. Lake Street Advisors Group LLC’s holdings in FedEx were worth $664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FDX. Advisor Resource Council purchased a new position in FedEx in the fourth quarter valued at $202,000. Raymond James & Associates boosted its holdings in FedEx by 2.2% in the fourth quarter. Raymond James & Associates now owns 524,082 shares of the shipping service provider’s stock valued at $132,577,000 after purchasing an additional 11,191 shares during the period. CVA Family Office LLC purchased a new position in FedEx in the fourth quarter valued at $86,000. Pacer Advisors Inc. boosted its holdings in FedEx by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 15,982 shares of the shipping service provider’s stock valued at $4,043,000 after purchasing an additional 316 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its holdings in FedEx by 56.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 2,846 shares of the shipping service provider’s stock valued at $720,000 after purchasing an additional 1,022 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Bank of America lifted their price target on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Argus lifted their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.00.

Insider Buying and Selling at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of FedEx 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 sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of FedEx 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 directly 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 can be accessed through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX traded up $3.96 during trading on Thursday, hitting $302.24. 333,849 shares of the stock were exchanged, compared to its average volume of 1,913,450. The company has a fifty day moving average price of $271.42 and a two-hundred day moving average price of $261.72. The company has a market cap of $73.84 billion, a PE ratio of 17.31, a P/E/G ratio of 1.09 and a beta of 1.18. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced 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. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.94 EPS. On average, analysts forecast that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date was Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a yield of 1.83%. FedEx’s payout ratio is 32.04%.

FedEx Company 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.