Benjamin Edwards Inc. Sells 1,339 Shares of FedEx Co. (NYSE:FDX)

Benjamin Edwards Inc. cut its stake in shares of FedEx Co. (NYSE:FDX) by 38.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,144 shares of the shipping service provider’s stock after selling 1,339 shares during the quarter. Benjamin Edwards Inc.’s holdings in FedEx were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Precision Wealth Strategies LLC purchased a new position in FedEx in the fourth quarter worth $324,000. Quest Partners LLC bought a new stake in FedEx during the fourth quarter worth about $267,000. Franklin Resources Inc. boosted its holdings in shares of FedEx by 38.6% in the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after purchasing an additional 42,844 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of FedEx by 3.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after purchasing an additional 2,051 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of FedEx by 3.6% during the 4th quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after buying an additional 3,955 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FDX shares. Argus upped their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird lowered their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday. The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research note on Friday. Finally, UBS Group lowered their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.84.

FedEx Stock Performance

FedEx stock opened at $254.63 on Friday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock’s 50 day simple moving average is $292.43 and its two-hundred day simple moving average is $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. The stock has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG 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 the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given 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 yield of 2.17%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx 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.