L & S Advisors Inc Decreases Position in FedEx Co. (NYSE:FDX)

L & S Advisors Inc decreased its position in FedEx Co. (NYSE:FDX) by 16.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,760 shares of the shipping service provider’s stock after selling 1,575 shares during the period. L & S Advisors Inc’s holdings in FedEx were worth $2,327,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC grew its holdings in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC increased its holdings in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its holdings in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC boosted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FDX shares. Stephens restated an “overweight” rating and set a $325.00 target price on shares of FedEx in a research note on Wednesday, June 26th. Raymond James decreased their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Bank of America lifted their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. The Goldman Sachs Group boosted their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.67.

FedEx Stock Up 2.2 %

FDX opened at $292.63 on Tuesday. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50-day simple moving average of $293.11 and a two-hundred day simple moving average of $274.10. The company has a market capitalization of $72.01 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.94 EPS. Analysts forecast that FedEx Co. will post 20.82 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 1.89%. The ex-dividend date 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.