UNIVEST FINANCIAL Corp Lowers Holdings in FedEx Co. (NYSE:FDX)

UNIVEST FINANCIAL Corp lowered its holdings in FedEx Co. (NYSE:FDX) by 3.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,179 shares of the shipping service provider’s stock after selling 471 shares during the period. FedEx makes up 1.3% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 23rd biggest holding. UNIVEST FINANCIAL Corp’s holdings in FedEx were worth $4,551,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FDX. Scarborough Advisors LLC acquired a new position in shares of FedEx in the fourth quarter worth $25,000. Fortis Group Advisors LLC grew its stake in FedEx by 100.0% during the 4th 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. Private Wealth Management Group LLC acquired a new position in FedEx during the 4th quarter worth $28,000. Sachetta LLC purchased a new stake in FedEx during the 4th quarter worth about $32,000. Finally, Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at about $39,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.7 %

NYSE:FDX opened at $283.37 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month 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. The stock’s 50 day simple moving average is $294.25 and its 200-day simple moving average is $271.87. The firm has a market cap of $69.73 billion, a P/E ratio of 16.45, a PEG ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.94 EPS. Equities analysts anticipate that FedEx Co. will post 20.87 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stephens reissued an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. The Goldman Sachs Group lifted their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Wells Fargo & Company increased their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

Insiders Place Their Bets

In other news, EVP Brie Carere sold 1,958 shares of the firm’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 completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

FedEx Company 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.