Abacus Planning Group Inc. Purchases New Holdings in FedEx Co. (NYSE:FDX)

Abacus Planning Group Inc. bought a new position in shares of FedEx Co. (NYSE:FDX) in the second quarter, Holdings Channel reports. The firm bought 693 shares of the shipping service provider’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently bought and sold shares of FDX. Crossmark Global Holdings Inc. grew its holdings in shares of FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after buying an additional 5,055 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in FedEx in the 1st quarter valued at about $1,667,000. Allegheny Financial Group LTD acquired a new position in FedEx in the 1st quarter valued at about $203,000. Hilltop National Bank acquired a new position in FedEx in the 1st quarter valued at about $476,000. Finally, Csenge Advisory Group grew its position in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FDX shares. Robert W. Baird increased their target price on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Argus increased their price objective on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company increased their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. Finally, UBS Group dropped their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by company insiders.

FedEx Trading Up 0.9 %

FDX opened at $298.77 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The stock has a market cap of $72.99 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The company has a fifty day moving average of $293.27 and a 200-day moving average of $270.00. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during 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 business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $4.94 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 20.87 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is 32.04%.

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.