FedEx Co. (NYSE:FDX) is Financial Partners Group LLC’s 4th Largest Position

Financial Partners Group LLC grew its stake in shares of FedEx Co. (NYSE:FDX) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,686 shares of the shipping service provider’s stock after purchasing an additional 163 shares during the period. FedEx comprises about 4.3% of Financial Partners Group LLC’s holdings, making the stock its 4th biggest holding. Financial Partners Group LLC’s holdings in FedEx were worth $11,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Richard P Slaughter Associates Inc increased its position in FedEx by 0.4% in the 2nd quarter. Richard P Slaughter Associates Inc now owns 8,573 shares of the shipping service provider’s stock worth $2,570,000 after purchasing an additional 38 shares during the last quarter. Fidelis Capital Partners LLC increased its position in FedEx by 4.1% in the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after purchasing an additional 39 shares during the last quarter. Coastline Trust Co increased its position in FedEx by 1.0% in the 2nd quarter. Coastline Trust Co now owns 4,229 shares of the shipping service provider’s stock worth $1,268,000 after purchasing an additional 40 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its holdings in shares of FedEx by 3.5% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after acquiring an additional 43 shares during the last quarter. Finally, SVB Wealth LLC increased its holdings in shares of FedEx by 2.5% during the 4th quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after acquiring an additional 44 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the topic of a number of analyst reports. Bank of America increased their price objective on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Morgan Stanley increased 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. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Raymond James decreased their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Transactions at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $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 related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FDX traded up $1.64 during mid-day trading on Monday, reaching $279.05. The company had a trading volume of 1,247,208 shares, compared to its average volume of 1,886,050. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company’s 50-day moving average is $281.57 and its 200-day moving average is $265.64. The company has a market capitalization of $68.67 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the firm posted $4.94 EPS. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date was Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.98%. FedEx’s dividend payout ratio is presently 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.