Axxcess Wealth Management LLC Boosts Holdings in FedEx Co. (NYSE:FDX)

Axxcess Wealth Management LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,325 shares of the shipping service provider’s stock after buying an additional 941 shares during the quarter. Axxcess Wealth Management LLC’s holdings in FedEx were worth $6,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Crossmark Global Holdings Inc. boosted its stake in FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of FedEx in the first quarter valued at $1,667,000. Allegheny Financial Group LTD bought a new stake in FedEx in the first quarter worth $203,000. Hilltop National Bank purchased a new stake in FedEx during the first quarter valued at $476,000. Finally, Csenge Advisory Group lifted its position in FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was 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 quarter, insiders sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

FedEx Trading Up 2.2 %

Shares of FedEx stock opened at $292.63 on Tuesday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $72.01 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The firm has a 50-day simple moving average of $293.11 and a two-hundred day simple moving average of $274.10.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating 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 previous year, the business earned $4.94 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict 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 paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.89%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FDX shares. Evercore ISI decreased their target price on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Bank of America raised their target price on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Robert W. Baird reissued an “outperform” rating and issued a $340.00 price objective on shares of FedEx in a research report on Friday. Finally, UBS Group dropped their target price on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a 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 $314.67.

About FedEx

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.