FedEx Co. (NYSE:FDX) Shares Sold by Simmons Bank

Simmons Bank reduced its position in shares of FedEx Co. (NYSE:FDX) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,562 shares of the shipping service provider’s stock after selling 271 shares during the period. Simmons Bank’s holdings in FedEx were worth $468,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% during the fourth 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 in the last quarter. Scarborough Advisors LLC acquired a new position in shares of FedEx during the fourth quarter worth $25,000. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the fourth quarter worth $28,000. Sachetta LLC acquired a new position in shares of FedEx during the fourth quarter worth $32,000. Finally, Northwest Financial Advisors acquired a new stake in FedEx in the fourth quarter valued at $33,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were 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 owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, 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 90 days. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock traded up $1.23 during trading on Wednesday, hitting $296.13. 680,903 shares of the stock were exchanged, compared to its average volume of 1,815,498. The stock’s fifty day moving average is $289.60 and its 200 day moving average is $268.88. The stock has a market cap of $72.87 billion, a PE ratio of 17.12, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The business 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 company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.94 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 20.94 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.86%. FedEx’s dividend payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target on the stock. Wells Fargo & Company upped their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Argus upped their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. The Goldman Sachs Group upped their price target on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Raymond James cut their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $313.96.

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.