Parallel Advisors LLC Sells 2,023 Shares of FedEx Co. (NYSE:FDX)

Parallel Advisors LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 13.6% in the second quarter, HoldingsChannel.com reports. The firm owned 12,858 shares of the shipping service provider’s stock after selling 2,023 shares during the period. Parallel Advisors LLC’s holdings in FedEx were worth $3,855,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FDX. SeaCrest Wealth Management LLC raised its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the last quarter. LRI Investments LLC raised its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC boosted its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its holdings in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $286.38 on Friday. The stock has a fifty day moving average of $293.17 and a 200-day moving average of $273.58. The stock has a market cap of $70.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. 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 fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the business posted $4.94 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.93%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Argus lifted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI decreased their price objective on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley boosted their target price on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $314.67.

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.