MML Investors Services LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 4.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,293 shares of the shipping service provider’s stock after selling 1,310 shares during the quarter. MML Investors Services LLC’s holdings in FedEx were worth $4,481,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sageworth Trust Co acquired a new stake in FedEx during the 2nd quarter worth approximately $25,000. Evolution Wealth Advisors LLC acquired a new stake in FedEx during the 1st quarter worth approximately $31,000. Nelson Roberts Investment Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth approximately $34,000. Icon Wealth Partners LLC acquired a new stake in FedEx during the 1st quarter worth approximately $38,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in FedEx during the 2nd quarter worth approximately $39,000. 71.40% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on FDX shares. Barclays reissued a “buy” rating and set a $185.00 target price on shares of FedEx in a research report on Thursday, June 13th. TheStreet downgraded shares of FedEx from a “b-” rating to a “c+” rating in a research report on Thursday, June 6th. Goldman Sachs Group began coverage on shares of FedEx in a research report on Wednesday, July 10th. They issued a “buy” rating and a $200.00 price objective for the company. Credit Suisse Group lowered their price objective on shares of FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, June 26th. Finally, Raymond James lowered their price objective on shares of FedEx from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. FedEx has a consensus rating of “Buy” and an average price target of $190.92.
Shares of FedEx stock traded up $1.23 on Friday, hitting $174.74. 91,027 shares of the company’s stock traded hands, compared to its average volume of 1,570,284. The stock has a market cap of $44.93 billion, a P/E ratio of 11.25, a PEG ratio of 0.93 and a beta of 1.69. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average is $161.65 and its 200 day moving average is $171.08. FedEx Co. has a 52-week low of $147.82 and a 52-week high of $259.25.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.91 EPS. Equities research analysts forecast that FedEx Co. will post 14.7 EPS for the current year.
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 paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, September 6th. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
In other news, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the transaction, the executive vice president now directly owns 68,446 shares in the company, valued at approximately $12,031,437.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The disclosure for this sale can be found here. Corporate insiders own 8.44% of the company’s stock.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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