Thoroughbred Financial Services LLC Purchases 1,978 Shares of FedEx Co. (NYSE:FDX)

Thoroughbred Financial Services LLC grew its holdings in FedEx Co. (NYSE:FDX) by 49.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,991 shares of the shipping service provider’s stock after acquiring an additional 1,978 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in FedEx were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Westover Capital Advisors LLC lifted its holdings in shares of FedEx by 54.3% during the 2nd quarter. Westover Capital Advisors LLC now owns 5,939 shares of the shipping service provider’s stock worth $1,781,000 after acquiring an additional 2,091 shares during the period. Hardin Capital Partners LLC bought a new stake in FedEx during the second quarter worth $225,000. GHP Investment Advisors Inc. boosted its holdings in shares of FedEx by 0.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 29,149 shares of the shipping service provider’s stock valued at $8,740,000 after purchasing an additional 239 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of FedEx by 40.1% in the 2nd quarter. Meeder Advisory Services Inc. now owns 6,193 shares of the shipping service provider’s stock valued at $1,857,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of FedEx by 2,127.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 646 shares of the shipping service provider’s stock worth $194,000 after buying an additional 617 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated 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 owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on 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 directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by company insiders.

FedEx Stock Up 0.1 %

FDX stock opened at $286.38 on Friday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a fifty day moving average of $293.17 and a 200-day moving average of $273.58. The company has a market capitalization of $70.47 billion, a price-to-earnings ratio of 16.62, a PEG 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 (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.94 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The business 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 $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analyst Ratings Changes

FDX has been the subject of several research analyst reports. Argus boosted their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley increased their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 target price (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group increased their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company upped their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target 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.