Summit Trail Advisors LLC Purchases 2,292 Shares of FedEx Co. (NYSE:FDX)

Summit Trail Advisors LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 99.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,594 shares of the shipping service provider’s stock after purchasing an additional 2,292 shares during the quarter. Summit Trail Advisors LLC’s holdings in FedEx were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and 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 acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at about $39,000. Security National Bank bought a new stake in shares of FedEx in the 4th quarter valued at about $44,000. Finally, Abound Wealth Management increased its stake in shares of FedEx by 175.9% in 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 last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 15.2 %

NYSE:FDX opened at $254.64 on Friday. The company has a market cap of $62.66 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. 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 Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The business has a 50 day moving average price of $292.43 and a two-hundred day moving average price of $275.04.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on FDX. Susquehanna lowered their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday. The Goldman Sachs Group lowered their price target on FedEx from $333.00 to $332.00 in a research note on Friday. Bernstein Bank upped their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America lowered their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $215.00 to $200.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.38.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s 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 sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction that occurred 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 transaction, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by insiders.

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.