GAMMA Investing LLC Acquires 836 Shares of FedEx Co. (NYSE:FDX)

GAMMA Investing LLC lifted its holdings in FedEx Co. (NYSE:FDX) by 44.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,733 shares of the shipping service provider’s stock after purchasing an additional 836 shares during the period. GAMMA Investing LLC’s holdings in FedEx were worth $748,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. SeaCrest Wealth Management LLC increased its stake in shares of FedEx by 0.6% in 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 increased its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC grew its position in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC grew its position in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC grew its position in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were 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 owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,914 shares of company stock worth $3,978,338 in the last quarter. Insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FDX. Robert W. Baird decreased their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Evercore ISI decreased their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Argus lifted their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

FedEx Stock Up 0.3 %

Shares of FDX opened at $261.28 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business’s 50 day simple moving average is $283.84 and its 200-day simple moving average is $276.02. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a market capitalization of $64.30 billion, a P/E ratio of 15.09, a PEG ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company 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 firm earned $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 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.