FedEx Co. (NYSE:FDX) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its stake in FedEx Co. (NYSE:FDX) by 16.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,575 shares of the shipping service provider’s stock after purchasing an additional 371 shares during the period. Moors & Cabot Inc.’s holdings in FedEx were worth $772,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Capital International Investors raised its position in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Sentry LLC acquired a new position in shares of FedEx during the fourth quarter worth about $307,007,000. Vanguard Group Inc. raised its holdings in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Putnam Investments LLC raised its holdings in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its position in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’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 completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction 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 owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction 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 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 ninety days, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

FedEx Trading Up 0.3 %

Shares of FedEx stock opened at $298.17 on Thursday. The firm has a market cap of $73.37 billion, a PE ratio of 17.31, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The business’s fifty day moving average is $293.30 and its two-hundred day moving average is $274.62.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm 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%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $4.94 EPS. Analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. FedEx’s payout ratio is 32.04%.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group raised their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Robert W. Baird reiterated an “outperform” rating and issued a $340.00 price objective on shares of FedEx in a research note on Friday, September 13th. Finally, Wells Fargo & Company upped their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.58.

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.