Oppenheimer & Co. Inc. Buys 277 Shares of FedEx Co. (NYSE:FDX)

Oppenheimer & Co. Inc. increased its stake in FedEx Co. (NYSE:FDX) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,539 shares of the shipping service provider’s stock after purchasing an additional 277 shares during the period. Oppenheimer & Co. Inc.’s holdings in FedEx were worth $3,460,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its position in shares of FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after purchasing an additional 5,055 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of FedEx in the first quarter worth $1,667,000. Allegheny Financial Group LTD acquired a new stake in FedEx in the first quarter valued at about $203,000. Hilltop National Bank acquired a new stake in FedEx in the first quarter valued at about $476,000. Finally, Csenge Advisory Group boosted its stake in FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after buying an additional 298 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.1 %

Shares of FDX stock opened at $286.38 on Monday. The company has a market cap of $70.47 billion, a P/E ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a 50 day simple moving average of $293.17 and a two-hundred day simple moving average of $273.79. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.94 earnings per share. Research analysts forecast that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The company 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 dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. FedEx’s dividend payout ratio is 32.04%.

Insider Activity

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred 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 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 filing with the SEC, which is available at this hyperlink. In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The stock was 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 owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $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 over the last quarter. 8.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FDX. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Wells Fargo & Company lifted their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Raymond James cut their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Finally, UBS Group cut their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.67.

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.