Newbridge Financial Services Group Inc. Purchases 2,777 Shares of FedEx Co. (NYSE:FDX)

Newbridge Financial Services Group Inc. lifted its position in FedEx Co. (NYSE:FDX) by 93.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,741 shares of the shipping service provider’s stock after buying an additional 2,777 shares during the period. Newbridge Financial Services Group Inc.’s holdings in FedEx were worth $1,721,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC purchased a new stake in shares of FedEx during the 4th quarter valued at about $307,007,000. Vanguard Group Inc. boosted its holdings in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the last quarter. Putnam Investments LLC grew its position in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. increased its holdings in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 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 FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the transaction, the director now owns 6,955 shares in the company, valued at approximately $2,081,909.70. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock valued at $3,978,338 in the last quarter. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on FDX shares. Bernstein Bank lifted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.74.

FedEx Stock Down 1.5 %

Shares of NYSE:FDX opened at $269.56 on Wednesday. The company has a 50-day moving average price of $286.76 and a 200 day moving average price of $275.91. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. 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 $66.33 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.55 EPS. As a group, equities research analysts predict that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

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.