Westwood Holdings Group Inc. Has $100.20 Million Stake in FedEx Co. (NYSE:FDX)

Westwood Holdings Group Inc. reduced its holdings in FedEx Co. (NYSE:FDX) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 334,183 shares of the shipping service provider’s stock after selling 4,225 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.14% of FedEx worth $100,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortis Group Advisors LLC boosted its stake in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at $25,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter worth about $39,000. Security National Bank purchased a new stake in shares of FedEx in the fourth quarter worth approximately $44,000. Finally, Abound Wealth Management lifted its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now 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 this link. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FDX. JPMorgan Chase & Co. reduced their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating 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. Finally, Robert W. Baird lowered their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

FedEx Price Performance

FDX stock opened at $254.63 on Friday. The firm has a 50-day moving average of $292.43 and a 200 day moving average of $274.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company 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. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the company posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced 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 is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. FedEx’s payout ratio is 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.