FedEx Co. (NYSE:FDX) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,942 shares of the shipping service provider’s stock after buying an additional 89 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in FedEx were worth $5,679,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FDX. Vanguard Group Inc. increased its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Capital International Investors increased its position in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $1,811,748,000. Putnam Investments LLC increased its position in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of FedEx in the 4th quarter valued at $700,291,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX stock traded up $0.17 during mid-day trading on Wednesday, hitting $283.27. The stock had a trading volume of 132,231 shares, compared to its average volume of 1,870,506. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company’s 50-day simple moving average is $282.32 and its 200-day simple moving average is $265.86. The firm has a market cap of $69.71 billion, a PE ratio of 16.43, a PEG ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the business earned $4.94 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts anticipate 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. 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 of this dividend was Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Activity at FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following 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. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FDX shares. Wells Fargo & Company increased their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Argus increased their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Robert W. Baird increased their target price on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. UBS Group dropped their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Finally, StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

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.