Auxier Asset Management Has $2.86 Million Position in FedEx Co. (NYSE:FDX)

Auxier Asset Management lessened its position in FedEx Co. (NYSE:FDX) by 29.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,521 shares of the shipping service provider’s stock after selling 4,000 shares during the period. Auxier Asset Management’s holdings in FedEx were worth $2,855,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FDX. Legacy Financial Advisors Inc. raised its position in shares of FedEx by 5.1% during the second quarter. Legacy Financial Advisors Inc. now owns 1,379 shares of the shipping service provider’s stock worth $413,000 after purchasing an additional 67 shares during the period. Summit Trail Advisors LLC raised its holdings in FedEx by 99.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,594 shares of the shipping service provider’s stock worth $1,384,000 after buying an additional 2,292 shares during the period. AE Wealth Management LLC lifted its stake in FedEx by 49.0% in the second quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after buying an additional 948 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of FedEx by 17.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 18,489 shares of the shipping service provider’s stock valued at $5,544,000 after buying an additional 2,784 shares during the period. Finally, Ieq Capital LLC increased its position in shares of FedEx by 4.9% during the second quarter. Ieq Capital LLC now owns 13,838 shares of the shipping service provider’s stock worth $4,149,000 after acquiring an additional 647 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated 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 owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. 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.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Friday. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James reduced their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday. Finally, BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.84.

FedEx Price Performance

NYSE:FDX opened at $254.63 on Friday. The firm’s fifty day moving average price is $292.43 and its two-hundred day moving average price is $274.85. 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 company has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G 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 issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 EPS. Equities analysts expect that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The firm 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 $1.38 dividend. 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 presently 32.04%.

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.