FedEx Co. (NYSE:FDX) Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL cut its position in FedEx Co. (NYSE:FDX) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,540 shares of the shipping service provider’s stock after selling 400 shares during the period. FedEx accounts for 1.6% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 23rd largest position. Birmingham Capital Management Co. Inc. AL’s holdings in FedEx were worth $4,060,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC boosted its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth about $25,000. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter worth about $39,000. Security National Bank purchased a new stake in FedEx during the 4th quarter valued at about $44,000. Finally, Abound Wealth Management raised its holdings in FedEx by 175.9% in 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 during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marvin R. Ellison sold 2,535 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the transaction, the director now owns 6,955 shares in the company, valued at $2,081,909.70. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock worth $3,978,338 in the last ninety days. 8.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FDX shares. Stephens restated an “overweight” rating and set a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Evercore ISI lowered their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. BMO Capital Markets cut their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $314.74.

FedEx Price Performance

FedEx stock opened at $269.56 on Wednesday. The company’s 50 day moving average is $286.76 and its two-hundred day moving average is $275.91. The firm has a market cap of $66.33 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released its earnings results 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). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.55 earnings per share. On average, research analysts expect that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.05%. FedEx’s dividend payout ratio is currently 32.04%.

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.