Garner Asset Management Corp Has $1.76 Million Stock Position in FedEx Co. (NYSE:FDX)

Garner Asset Management Corp lifted its holdings in FedEx Co. (NYSE:FDX) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,860 shares of the shipping service provider’s stock after acquiring an additional 62 shares during the period. Garner Asset Management Corp’s holdings in FedEx were worth $1,757,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FDX. Scarborough Advisors LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC grew its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Sachetta LLC bought a new position in FedEx during the 4th quarter worth $32,000. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at $39,000. Finally, Abound Wealth Management lifted its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.3 %

Shares of NYSE:FDX opened at $298.17 on Thursday. The firm has a market cap of $73.37 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The business has a fifty day simple moving average of $293.30 and a 200 day simple moving average of $274.62. 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 (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. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the company earned $4.94 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts predict that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed 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 1.85%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx 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 completion of 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 legal filing with the SEC, which is available at the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on 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 approximately $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction 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 in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last quarter. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Wells Fargo & Company boosted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Raymond James lowered their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.58.

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.