Stonebridge Capital Advisors LLC Sells 65 Shares of FedEx Co. (NYSE:FDX)

Stonebridge Capital Advisors LLC decreased its position in FedEx Co. (NYSE:FDX) by 4.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,570 shares of the shipping service provider’s stock after selling 65 shares during the period. Stonebridge Capital Advisors LLC’s holdings in FedEx were worth $455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FDX. CVA Family Office LLC bought a new stake in FedEx in the fourth quarter valued at $86,000. Pacer Advisors Inc. boosted its holdings in FedEx by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 15,982 shares of the shipping service provider’s stock valued at $4,043,000 after acquiring an additional 316 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in FedEx by 56.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 2,846 shares of the shipping service provider’s stock valued at $720,000 after acquiring an additional 1,022 shares in the last quarter. PFG Investments LLC boosted its holdings in FedEx by 6.7% in the fourth quarter. PFG Investments LLC now owns 3,321 shares of the shipping service provider’s stock valued at $840,000 after acquiring an additional 208 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in FedEx in the fourth quarter valued at $32,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock traded up $1.55 during mid-day trading on Friday, reaching $300.14. 1,200,882 shares of the stock traded hands, compared to its average volume of 1,737,460. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The business’s 50-day moving average is $273.07 and its 200-day moving average is $262.33. 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 stock has a market capitalization of $73.32 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.94 EPS. As a group, sell-side analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were given a dividend of $1.38 per share. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FDX shares. Bank of America lifted their price target on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Morgan Stanley raised their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. TD Cowen raised their price objective on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Robert W. Baird raised their price objective on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Insider Transactions at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction 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 sold 32,944 shares of company stock worth $9,882,355 in the last three months. Corporate insiders own 8.73% of the company’s stock.

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.