FedEx Co. (NYSE:FDX) Stock Position Boosted by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC boosted its stake in FedEx Co. (NYSE:FDX) by 28.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,300 shares of the shipping service provider’s stock after buying an additional 1,600 shares during the period. Freestone Capital Holdings LLC’s holdings in FedEx were worth $2,115,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in FedEx in the 4th quarter valued at about $25,000. Fortis Group Advisors LLC boosted its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of FedEx during the 4th quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in shares of FedEx during the 4th quarter valued at about $30,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of FedEx during the 4th quarter valued at about $31,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FDX shares. Raymond James reduced their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. The Goldman Sachs Group upped their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Evercore ISI reduced their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Finally, Wells Fargo & Company upped their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note 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’s stock. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.00.

Insider Transactions at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction 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 transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

FedEx Stock Performance

FDX stock traded up $2.58 during midday trading on Friday, hitting $301.17. 592,976 shares of the company traded hands, compared to its average volume of 1,910,402. 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 business has a 50 day simple moving average of $272.21 and a 200-day simple moving average of $261.98. The stock has a market capitalization of $73.58 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $4.94 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were paid a $1.38 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.83%. FedEx’s dividend payout ratio (DPR) is presently 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.