14,626 Shares in FedEx Co. (NYSE:FDX) Purchased by Usca Ria LLC

Usca Ria LLC purchased a new position in FedEx Co. (NYSE:FDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,626 shares of the shipping service provider’s stock, valued at approximately $2,401,000.

A number of other hedge funds also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its holdings in FedEx by 22.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock worth $17,637,000 after acquiring an additional 19,349 shares in the last quarter. Heritage Investors Management Corp grew its holdings in FedEx by 4.3% during the 2nd quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock worth $12,610,000 after acquiring an additional 3,189 shares in the last quarter. First Dallas Securities Inc. grew its holdings in FedEx by 7.4% during the 1st quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock worth $1,113,000 after acquiring an additional 425 shares in the last quarter. Tredje AP fonden grew its holdings in FedEx by 23.7% during the 1st quarter. Tredje AP fonden now owns 19,898 shares of the shipping service provider’s stock worth $3,623,000 after acquiring an additional 3,817 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in FedEx by 26.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 47,501 shares of the shipping service provider’s stock worth $8,617,000 after acquiring an additional 9,997 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

Several research analysts have issued reports on FDX shares. Oppenheimer dropped their target price on shares of FedEx from $192.00 to $176.00 and set an “outperform” rating on the stock in a report on Thursday, June 27th. TheStreet cut shares of FedEx from a “b-” rating to a “c+” rating in a report on Thursday, June 6th. Citigroup dropped their target price on shares of FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Berenberg Bank set a $175.00 target price on shares of FedEx and gave the stock a “hold” rating in a report on Friday, June 28th. Finally, Morgan Stanley set a $143.00 target price on shares of FedEx and gave the stock a “hold” rating in a report on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $191.63.

Shares of NYSE:FDX traded up $3.18 during trading on Friday, reaching $156.00. The stock had a trading volume of 1,536,200 shares, compared to its average volume of 2,030,355. FedEx Co. has a one year low of $150.68 and a one year high of $259.25. The company has a market capitalization of $39.86 billion, a P/E ratio of 10.05, a PEG ratio of 0.83 and a beta of 1.65. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $164.88 and its 200 day simple moving average is $173.86.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, beating analysts’ consensus estimates of $4.93 by $0.08. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The business had revenue of $17.81 billion for the quarter, compared to analysts’ expectations of $17.85 billion. During the same period last year, the business earned $5.91 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 14.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.67%. FedEx’s dividend payout ratio is currently 16.75%.

In related news, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the sale, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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