Vicus Capital Sells 1,087 Shares of FedEx Co. (NYSE:FDX)

Vicus Capital cut its stake in FedEx Co. (NYSE:FDX) by 42.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,486 shares of the shipping service provider’s stock after selling 1,087 shares during the period. Vicus Capital’s holdings in FedEx were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Fortis Group Advisors LLC boosted its stake in shares of FedEx by 100.0% in 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 during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter worth about $25,000. Private Wealth Management Group LLC bought a new position in shares of FedEx in the 4th quarter worth about $28,000. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx in the 4th quarter worth about $31,000. Finally, Sachetta LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FDX shares. Stephens reiterated an “overweight” rating and issued a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. TD Cowen initiated coverage on shares of FedEx in a research note on Thursday. They issued a “buy” rating and a $334.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Raymond James reduced their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, Argus increased their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $313.96.

Insider Activity

In related 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 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 document filed with the SEC, which is available through the SEC website. 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 sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’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 sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last three months. Company insiders own 8.73% of the company’s stock.

FedEx Stock Down 0.0 %

Shares of FDX traded down $0.07 during trading hours on Thursday, reaching $291.45. 186,418 shares of the stock traded hands, compared to its average volume of 1,836,004. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a fifty day simple moving average of $286.72 and a 200 day simple moving average of $267.53. The company has a market cap of $71.72 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.08 and a beta of 1.18. 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 issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $4.94 earnings per share. On average, equities analysts forecast that FedEx Co. will post 20.94 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is currently 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.