Hancock Whitney Corp Buys 326 Shares of FedEx Co. (NYSE:FDX)

Hancock Whitney Corp boosted its stake in FedEx Co. (NYSE:FDX) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,130 shares of the shipping service provider’s stock after purchasing an additional 326 shares during the quarter. Hancock Whitney Corp’s holdings in FedEx were worth $14,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FDX. SeaCrest Wealth Management LLC raised its stake in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares in the last quarter. LRI Investments LLC grew its holdings in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its holdings in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC boosted its position in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FDX shares. UBS Group reduced their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets cut their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday. Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday. Finally, TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $312.84.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by corporate insiders.

FedEx Trading Down 15.2 %

Shares of FedEx stock opened at $254.63 on Friday. The firm has a 50-day simple moving average of $292.43 and a two-hundred day simple moving average of $274.85. 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 Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. 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.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company posted $4.55 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts predict that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid 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 dividend payout ratio is currently 32.04%.

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.