FedEx Co. (NYSE:FDX) Shares Sold by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lowered its position in shares of FedEx Co. (NYSE:FDX) by 17.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 842 shares of the shipping service provider’s stock after selling 183 shares during the quarter. Perennial Investment Advisors LLC’s holdings in FedEx were worth $253,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC boosted its position in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter valued at approximately $25,000. Sachetta LLC purchased a new stake in shares of FedEx in the 4th quarter valued at $32,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the second quarter worth $39,000. Finally, Security National Bank purchased a new position in shares of FedEx during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $297.36 on Wednesday. The company has a market cap of $73.17 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company’s 50-day moving average price is $293.20 and its 200-day moving average price is $274.45. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business 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 business’s revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $4.94 EPS. On average, sell-side analysts forecast that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Morgan Stanley increased their price target on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Evercore ISI decreased their price target on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Stephens reaffirmed an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. Finally, Raymond James decreased their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.67.

Insider Transactions at FedEx

In related 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 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. In other news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value 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. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 in the last quarter. Company insiders own 8.73% of the company’s stock.

FedEx 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.