FedEx Co. (NYSE:FDX) Shares Sold by Circle Wealth Management LLC

Circle Wealth Management LLC decreased its stake in FedEx Co. (NYSE:FDX) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,155 shares of the shipping service provider’s stock after selling 282 shares during the period. Circle Wealth Management LLC’s holdings in FedEx were worth $1,246,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Precision Wealth Strategies LLC acquired a new stake in shares of FedEx in the 4th quarter worth approximately $324,000. Quest Partners LLC purchased a new position in shares of FedEx in the fourth quarter valued at $267,000. Franklin Resources Inc. raised its stake in shares of FedEx by 38.6% during the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after buying an additional 42,844 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of FedEx by 3.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock worth $15,283,000 after buying an additional 2,051 shares in the last quarter. Finally, US Bancorp DE grew its stake in FedEx by 3.6% in the 4th quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after acquiring an additional 3,955 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

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 completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last three months. 8.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FDX shares. Stifel Nicolaus cut their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday. UBS Group reduced their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Bernstein Bank increased their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $313.38.

FedEx Stock Performance

FedEx stock opened at $254.64 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company 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. The stock’s 50-day moving average is $292.43 and its 200-day moving average is $275.04.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the firm earned $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared 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 of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s dividend payout ratio is currently 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.