FedEx Co. (NYSE:FDX) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 4.4% in the second quarter, HoldingsChannel.com reports. The fund owned 22,325 shares of the shipping service provider’s stock after purchasing an additional 941 shares during the period. Axxcess Wealth Management LLC’s holdings in FedEx were worth $6,694,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sargent Investment Group LLC grew its holdings in shares of FedEx by 54.1% in the second quarter. Sargent Investment Group LLC now owns 5,788 shares of the shipping service provider’s stock valued at $1,735,000 after purchasing an additional 2,031 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of FedEx during the second quarter worth $1,976,000. Capstone Wealth Management Group LLC acquired a new stake in shares of FedEx in the second quarter valued at $307,000. Alpha Financial Partners LLC boosted its holdings in FedEx by 8.3% in the second quarter. Alpha Financial Partners LLC now owns 831 shares of the shipping service provider’s stock valued at $249,000 after purchasing an additional 64 shares during the period. Finally, Moors & Cabot Inc. grew its stake in FedEx by 16.8% during the 2nd quarter. Moors & Cabot Inc. now owns 2,575 shares of the shipping service provider’s stock worth $772,000 after purchasing an additional 371 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction 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 sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on 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 in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. Insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FDX shares. UBS Group reduced their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Evercore ISI dropped their price objective on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Argus raised their price objective on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.67.

FedEx Stock Performance

Shares of NYSE:FDX opened at $292.63 on Tuesday. The business has a 50-day moving average of $293.11 and a two-hundred day moving average of $274.10. The firm has a market capitalization of $72.01 billion, a PE ratio of 16.98, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last posted its 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. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the previous year, the company posted $4.94 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts forecast that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

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.