EverSource Wealth Advisors LLC Acquires 45 Shares of FedEx Co. (NYSE:FDX)

EverSource Wealth Advisors LLC raised its position in FedEx Co. (NYSE:FDX) by 0.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 12,496 shares of the shipping service provider’s stock after buying an additional 45 shares during the period. EverSource Wealth Advisors LLC’s holdings in FedEx were worth $3,621,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FDX. Parsons Capital Management Inc. RI boosted its position in FedEx by 11.7% in the 4th quarter. Parsons Capital Management Inc. RI now owns 2,059 shares of the shipping service provider’s stock valued at $521,000 after buying an additional 216 shares during the last quarter. FAS Wealth Partners Inc. acquired a new position in shares of FedEx in the 4th quarter valued at $216,000. Stonegate Investment Group LLC acquired a new position in shares of FedEx in the 4th quarter valued at $235,000. Coastline Trust Co lifted its stake in shares of FedEx by 84.3% in the 4th quarter. Coastline Trust Co now owns 3,548 shares of the shipping service provider’s stock valued at $898,000 after purchasing an additional 1,623 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in shares of FedEx by 6.0% in the 4th quarter. DAVENPORT & Co LLC now owns 62,650 shares of the shipping service provider’s stock valued at $15,849,000 after purchasing an additional 3,556 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of NYSE FDX traded down $5.53 during midday trading on Friday, reaching $292.30. 2,252,729 shares of the company were exchanged, compared to its average volume of 1,523,840. The stock’s 50-day moving average price is $277.79 and its 200-day moving average price is $264.04. The stock has a market cap of $71.41 billion, a P/E ratio of 16.97, a PEG ratio of 1.08 and a beta of 1.18. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.94 earnings per share. On average, sell-side analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were paid a $1.38 dividend. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. FedEx’s payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. StockNews.com raised FedEx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Stephens restated an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. Morgan Stanley lifted their price target on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. TD Cowen lifted their price target on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price target (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Buying and Selling

In related news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David P. Steiner sold 1,369 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the sale, the director now directly owns 35,183 shares in the company, valued at approximately $10,474,330.93. 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 over the last 90 days. 8.73% of the stock is owned by insiders.

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.