Evergreen Capital Management LLC Buys 897 Shares of FedEx Co. (NYSE:FDX)

Evergreen Capital Management LLC lifted its stake in FedEx Co. (NYSE:FDX) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,476 shares of the shipping service provider’s stock after buying an additional 897 shares during the quarter. Evergreen Capital Management LLC’s holdings in FedEx were worth $11,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FDX. Fortis Group Advisors LLC lifted its holdings in FedEx by 100.0% during the fourth 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 bought a new position in FedEx in the 4th quarter worth $25,000. Central Valley Advisors LLC bought a new stake in FedEx during the second quarter valued at about $39,000. Security National Bank bought a new stake in FedEx during the fourth quarter valued at about $44,000. Finally, Abound Wealth Management boosted 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 period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last 90 days. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX stock opened at $254.64 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a 50 day simple moving average of $292.43 and a 200-day simple moving average of $275.22. 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.

FedEx (NYSE:FDX) last announced 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). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. On average, equities analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on FedEx from $333.00 to $332.00 in a research note on Friday. Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday. UBS Group dropped their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Bank of America decreased their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $315.95.

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.