2,341 Shares in FedEx Co. (NYSE:FDX) Purchased by Symmetry Investments LP

Symmetry Investments LP bought a new position in shares of FedEx Co. (NYSE:FDX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,341 shares of the shipping service provider’s stock, valued at approximately $702,000.

Several other institutional investors have also recently made changes to their positions in FDX. Fortis Group Advisors LLC boosted its stake 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 acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter worth approximately $25,000. Central Valley Advisors LLC bought a new position in FedEx during the 2nd quarter valued at approximately $39,000. Security National Bank bought a new stake in FedEx in the fourth quarter worth $44,000. Finally, Abound Wealth Management grew its stake in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $254.63 on Friday. The business has a 50-day moving average price of $292.43 and a 200-day moving average price of $274.85. The firm has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month 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.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business earned $4.55 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that FedEx Co. will post 20.82 EPS for the current fiscal 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 given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling

In other FedEx 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 transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Brie Carere sold 1,958 shares of the 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 sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday. Raymond James cut their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday. Evercore ISI lowered their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a report on Friday. Finally, Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $312.84.

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.