FedEx Co. (NYSE:FDX) Shares Sold by HCR Wealth Advisors

HCR Wealth Advisors cut its stake in FedEx Co. (NYSE:FDX) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,141 shares of the shipping service provider’s stock after selling 103 shares during the period. HCR Wealth Advisors’ holdings in FedEx were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fortis Group Advisors LLC increased its position in shares of FedEx by 100.0% during the 4th 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 acquired a new position in shares of FedEx in the 4th quarter worth approximately $25,000. Central Valley Advisors LLC purchased a new position in shares of FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management increased its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC increased its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX traded up $0.09 during mid-day trading on Friday, hitting $264.36. 965,705 shares of the company were exchanged, compared to its average volume of 1,862,308. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market cap of $64.59 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The stock has a 50 day simple moving average of $281.08 and a 200-day simple moving average of $275.58. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.55 EPS. On average, sell-side analysts forecast that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.09%. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research reports. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s 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 sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.