Atria Investments LLC Grows Holdings in FedEx Co. (NYSE:FDX)

Atria Investments LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 56.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,781 shares of the shipping service provider’s stock after buying an additional 3,183 shares during the quarter. Atria Investments LLC’s holdings in FedEx were worth $1,231,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Profund Advisors LLC boosted its stake in shares of FedEx by 2.3% during the 2nd quarter. Profund Advisors LLC now owns 2,782 shares of the shipping service provider’s stock valued at $390,000 after buying an additional 63 shares during the last quarter. Glassman Wealth Services lifted its stake in FedEx by 4.8% during the second quarter. Glassman Wealth Services now owns 1,410 shares of the shipping service provider’s stock worth $198,000 after purchasing an additional 64 shares during the last quarter. SevenBridge Financial Group LLC lifted its stake in FedEx by 0.7% during the second quarter. SevenBridge Financial Group LLC now owns 9,602 shares of the shipping service provider’s stock worth $1,346,000 after purchasing an additional 67 shares during the last quarter. Tiemann Investment Advisors LLC lifted its stake in FedEx by 4.9% during the second quarter. Tiemann Investment Advisors LLC now owns 1,518 shares of the shipping service provider’s stock worth $213,000 after purchasing an additional 71 shares during the last quarter. Finally, Heron Financial Group LLC lifted its stake in FedEx by 2.5% during the second quarter. Heron Financial Group LLC now owns 3,078 shares of the shipping service provider’s stock worth $488,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 71.65% of the company’s stock.

Shares of FDX stock opened at $250.17 on Friday. The stock has a 50-day simple moving average of $219.35 and a 200 day simple moving average of $154.13. FedEx Co. has a fifty-two week low of $88.69 and a fifty-two week high of $256.18. The stock has a market capitalization of $65.69 billion, a P/E ratio of 51.16, a P/E/G ratio of 1.87 and a beta of 1.48. The company has a quick ratio of 1.53, a current ratio of 1.58 and a debt-to-equity ratio of 1.20.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $2.18. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The business had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.56 billion. During the same quarter last year, the business posted $3.05 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 10.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, September 3rd. This represents a $2.60 annualized dividend and a yield of 1.04%. FedEx’s dividend payout ratio is currently 27.37%.

In related news, Director Susan C. Schwab sold 10,570 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $155.58, for a total value of $1,644,480.60. Following the completion of the transaction, the director now owns 16,600 shares in the company, valued at approximately $2,582,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Henry J. Maier sold 8,750 shares of the stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $166.48, for a total value of $1,456,700.00. Following the completion of the transaction, the chief executive officer now owns 49,417 shares of the company’s stock, valued at approximately $8,226,942.16. The disclosure for this sale can be found here. Insiders have sold 79,486 shares of company stock valued at $15,850,747 in the last ninety days. Company insiders own 8.49% of the company’s stock.

FDX has been the topic of several research analyst reports. Stephens raised their price objective on FedEx from $215.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. BofA Securities raised their price objective on FedEx from $160.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Evercore ISI started coverage on FedEx in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $300.00 target price on the stock. Stifel Nicolaus raised FedEx from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $281.00 in a research report on Thursday. Finally, Robert W. Baird increased their target price on FedEx from $232.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $268.48.

FedEx Profile

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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