Ieq Capital LLC Purchases 647 Shares of FedEx Co. (NYSE:FDX)

Ieq Capital LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,838 shares of the shipping service provider’s stock after buying an additional 647 shares during the quarter. Ieq Capital LLC’s holdings in FedEx were worth $4,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its position in 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 last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in FedEx during the first quarter valued at about $1,667,000. Allegheny Financial Group LTD purchased a new stake in FedEx during the first quarter worth about $203,000. Hilltop National Bank bought a new stake in FedEx in the first quarter worth 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 acquiring an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was 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 directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value 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 this link. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders have 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.

FedEx Stock Down 15.2 %

Shares of FDX opened at $254.63 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a market cap of $62.66 billion, a P/E ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. The stock’s 50 day moving average is $292.43 and its two-hundred day moving average is $274.85. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.17%. FedEx’s payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FDX. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. UBS Group cut their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday. Finally, Susquehanna decreased their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

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.