Financial Partners Group LLC Has $11 Million Holdings in FedEx Co. (NYSE:FDX)

Financial Partners Group LLC lifted its stake in FedEx Co. (NYSE:FDX) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,686 shares of the shipping service provider’s stock after buying an additional 163 shares during the period. FedEx makes up approximately 4.3% of Financial Partners Group LLC’s investment portfolio, making the stock its 4th biggest position. Financial Partners Group LLC’s holdings in FedEx were worth $11,000,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Fortis Group Advisors LLC lifted its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FedEx during the fourth quarter worth $25,000. Private Wealth Management Group LLC bought a new stake in FedEx during the fourth quarter worth $28,000. Rakuten Securities Inc. bought a new stake in FedEx during the fourth quarter worth $30,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in FedEx during the fourth quarter worth $31,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Robert W. Baird upped their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. The Goldman Sachs Group upped their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Bank of America upped their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.00.

FedEx Trading Up 0.6 %

FedEx stock traded up $1.64 during trading hours on Monday, reaching $279.05. 1,247,208 shares of the company’s stock were exchanged, compared to its average volume of 1,886,050. 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 firm’s 50 day simple moving average is $281.57 and its 200 day simple moving average is $265.64. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market capitalization of $68.67 billion, a PE ratio of 16.20, a PEG ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its quarterly 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. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the business posted $4.94 EPS. The business’s revenue was up .8% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a dividend of $1.38 per share. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insiders Place Their Bets

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated 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 directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. 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.