McGinn Penninger Investment Management Inc. Sells 40 Shares of FedEx Co. (NYSE:FDX)

McGinn Penninger Investment Management Inc. reduced its position in FedEx Co. (NYSE:FDX) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,090 shares of the shipping service provider’s stock after selling 40 shares during the quarter. FedEx makes up 3.9% of McGinn Penninger Investment Management Inc.’s portfolio, making the stock its 7th largest holding. McGinn Penninger Investment Management Inc.’s holdings in FedEx were worth $5,724,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FDX. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC boosted 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 worth $25,000 after buying an additional 50 shares during the last quarter. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC raised its stake in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 2.2 %

NYSE FDX opened at $273.53 on Tuesday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The business’s fifty day moving average is $287.38 and its 200 day moving average is $275.80. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market cap of $67.31 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last released 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the company earned $4.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.02%. FedEx’s payout ratio is 32.04%.

Analysts Set New Price Targets

A number of analysts recently issued reports on FDX shares. Loop Capital dropped their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Wells Fargo & Company upped their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Argus lifted their price objective 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. Finally, BMO Capital Markets lowered their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

Insider Buying and Selling

In other news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, 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 that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now directly owns 6,955 shares of the company’s stock, valued at approximately $2,081,909.70. The disclosure for this sale can be found here. Insiders sold a total of 13,030 shares of company stock valued at $4,013,050 in the last three months. Insiders own 8.73% of the company’s stock.

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.