LJI Wealth Management LLC Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

LJI Wealth Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,030 shares of the shipping service provider’s stock after selling 50 shares during the period. LJI Wealth Management LLC’s holdings in FedEx were worth $309,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its holdings in shares of FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after buying an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of FedEx during the 1st quarter valued at approximately $1,667,000. Allegheny Financial Group LTD purchased a new stake in shares of FedEx during the 1st quarter worth approximately $203,000. Hilltop National Bank bought a new stake in shares of FedEx in the 1st quarter worth approximately $476,000. Finally, Csenge Advisory Group lifted its stake in FedEx by 14.9% in 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.

Analysts Set New Price Targets

Several analysts have issued reports on FDX shares. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $296.00 to $359.00 in a research note on Wednesday, June 26th. The Goldman Sachs Group upped their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.58.

FedEx Price Performance

Shares of NYSE:FDX opened at $298.17 on Thursday. The company’s fifty day moving average price is $293.30 and its 200-day moving average price is $274.62. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market capitalization of $73.37 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.03 and a beta of 1.17. FedEx Co. has a one year low of $224.69 and a one year high of $313.84.

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, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the previous year, the business earned $4.94 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the 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 of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last quarter. 8.73% of the stock is owned by corporate insiders.

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.