Hanson & Doremus Investment Management Trims Stake in FedEx Co. (NYSE:FDX)

Hanson & Doremus Investment Management decreased its stake in shares of FedEx Co. (NYSE:FDX) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,727 shares of the shipping service provider’s stock after selling 53 shares during the quarter. Hanson & Doremus Investment Management’s holdings in FedEx were worth $1,417,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Fortis Group Advisors LLC increased its position 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. Scarborough Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter worth about $25,000. Private Wealth Management Group LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $28,000. Sachetta LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $32,000. Finally, Central Valley Advisors LLC purchased a new position in shares of FedEx during the second quarter valued at approximately $39,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX stock opened at $286.38 on Friday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market capitalization of $70.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. 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 firm has a fifty day simple moving average of $293.17 and a 200-day simple moving average of $273.58.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating 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 company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the firm earned $4.94 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FDX shares. Argus raised their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Evercore ISI lowered their target price on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday. Finally, StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.67.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were 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 of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the 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 transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the SEC, 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 directly owns 14,745 shares in the company, valued at $4,345,646.40. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by insiders.

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.