Trust Co. of Toledo NA OH Reduces Position in FedEx Co. (NYSE:FDX)

Trust Co. of Toledo NA OH decreased its stake in shares of FedEx Co. (NYSE:FDX) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,224 shares of the shipping service provider’s stock after selling 42 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in FedEx were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FDX. Trust Point Inc. purchased a new position in FedEx during the fourth quarter worth $282,000. Asset Management One Co. Ltd. increased its position in FedEx by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 102,559 shares of the shipping service provider’s stock worth $26,007,000 after buying an additional 8,755 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of FedEx by 33,890.5% in the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after purchasing an additional 649,680 shares during the period. Arkadios Wealth Advisors grew its position in shares of FedEx by 5.1% in the fourth quarter. Arkadios Wealth Advisors now owns 1,826 shares of the shipping service provider’s stock valued at $462,000 after purchasing an additional 89 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of FedEx by 1.0% in the fourth quarter. Fulton Bank N.A. now owns 7,389 shares of the shipping service provider’s stock valued at $1,869,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Bank of America lifted their price objective on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Argus lifted their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Evercore ISI lowered their price objective on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, UBS Group lowered their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Stock Up 0.9 %

Shares of FDX traded up $2.64 during midday trading on Tuesday, reaching $285.73. 1,399,204 shares of the company were exchanged, compared to its average volume of 1,897,218. The stock has a 50-day moving average price of $278.50 and a 200-day moving average price of $264.60. The company has a market cap of $70.31 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 1.08 and a beta of 1.18. FedEx Co. has a 1-year low of $224.69 and a 1-year 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.

FedEx (NYSE:FDX) last released 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. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm posted $4.94 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. Research analysts expect that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were paid a $1.38 dividend. This is a boost 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 1.93%. FedEx’s payout ratio is 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.