FedEx Co. (NYSE:FDX) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in FedEx Co. (NYSE:FDX) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,728 shares of the shipping service provider’s stock after purchasing an additional 232 shares during the period. EverSource Wealth Advisors LLC’s holdings in FedEx were worth $3,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC increased its stake in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $25,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at approximately $39,000. Security National Bank acquired a new position in shares of FedEx during the 4th quarter worth approximately $44,000. 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 buying an additional 95 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the subject of several recent analyst reports. Bernstein Bank boosted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday. TD Cowen lowered their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday. Finally, Evercore ISI reduced their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.38.

Insider Buying and Selling

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated 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 owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. 8.73% of the stock is owned by insiders.

FedEx Stock Performance

Shares of FedEx stock opened at $254.64 on Friday. The stock has a market capitalization 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. 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 business has a 50-day moving average of $292.43 and a 200 day moving average of $275.04. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the firm posted $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

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 issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s dividend payout ratio (DPR) is 32.04%.

FedEx 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.