Clayton Partners LLC Purchases 3,390 Shares of FedEx Co. (NYSE:FDX)

Clayton Partners LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 34.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,259 shares of the shipping service provider’s stock after acquiring an additional 3,390 shares during the period. FedEx makes up approximately 3.2% of Clayton Partners LLC’s investment portfolio, making the stock its 11th largest holding. Clayton Partners LLC’s holdings in FedEx were worth $3,976,000 at the end of the most recent quarter.

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

FedEx Stock Down 15.2 %

Shares of NYSE FDX opened at $254.63 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The business has a 50-day simple moving average of $292.43 and a two-hundred day simple moving average of $274.85.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm 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%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. Research analysts anticipate 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. 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 presently 32.04%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday. UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a report on Friday. Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $312.84.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction 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 at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. 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.