FedEx Co. (NYSE:FDX) Shares Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 18.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,479 shares of the shipping service provider’s stock after purchasing an additional 867 shares during the period. Transcend Capital Advisors LLC’s holdings in FedEx were worth $1,643,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx in the fourth quarter valued at $25,000. Private Wealth Management Group LLC acquired a new stake in FedEx in the fourth quarter valued at $28,000. Rakuten Securities Inc. acquired a new stake in FedEx in the fourth quarter valued at $30,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in FedEx in the fourth quarter valued at $31,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

FedEx stock traded down $5.53 during trading hours on Friday, hitting $292.30. 2,252,729 shares of the company traded hands, compared to its average volume of 1,523,840. The firm has a market cap of $71.93 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.08 and a beta of 1.18. 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 firm’s 50-day simple moving average is $277.79 and its two-hundred day simple moving average is $264.18. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its 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. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the company earned $4.94 EPS. FedEx’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were given a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date was Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Cowen upped their price target on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. UBS Group cut their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. StockNews.com upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley raised their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Insider Activity

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $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.