McGuire Investment Group LLC Decreases Stock Position in FedEx Co. (NYSE:FDX)

McGuire Investment Group LLC lessened its stake in shares of FedEx Co. (NYSE:FDXGet Rating) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,712 shares of the shipping service provider’s stock after selling 110 shares during the period. McGuire Investment Group LLC’s holdings in FedEx were worth $1,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Schroder Investment Management Group increased its stake in FedEx by 17.9% in the fourth quarter. Schroder Investment Management Group now owns 23,586 shares of the shipping service provider’s stock worth $6,100,000 after purchasing an additional 3,587 shares during the period. Fiduciary Trust Co. increased its stake in FedEx by 18.3% in the fourth quarter. Fiduciary Trust Co. now owns 3,328 shares of the shipping service provider’s stock worth $860,000 after purchasing an additional 516 shares during the period. Gotham Asset Management LLC increased its stake in FedEx by 252.9% in the fourth quarter. Gotham Asset Management LLC now owns 6,271 shares of the shipping service provider’s stock worth $1,622,000 after purchasing an additional 4,494 shares during the period. Rockefeller Capital Management L.P. increased its stake in FedEx by 21.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 49,223 shares of the shipping service provider’s stock worth $12,730,000 after purchasing an additional 8,661 shares during the period. Finally, Mutual Advisors LLC increased its stake in FedEx by 11.0% in the fourth quarter. Mutual Advisors LLC now owns 7,860 shares of the shipping service provider’s stock worth $2,033,000 after purchasing an additional 776 shares during the period. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $192.00 target price on FedEx in a research note on Friday. UBS Group reduced their target price on FedEx from $232.00 to $215.00 in a research note on Friday. Wells Fargo & Company cut their price target on FedEx from $269.00 to $199.00 and set an “overweight” rating on the stock in a research note on Friday, September 16th. Citigroup cut their price target on FedEx from $180.00 to $165.00 in a research note on Friday. Finally, BMO Capital Markets cut their price target on FedEx from $215.00 to $190.00 in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.74.

Insider Activity at FedEx

In related news, Director Amy B. Lane purchased 607 shares of FedEx stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average cost of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the transaction, the director now owns 686 shares in the company, valued at $156,490.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Amy B. Lane purchased 607 shares of FedEx stock in a transaction that occurred on Thursday, June 30th. The stock was bought at an average cost of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the transaction, the director now owns 686 shares in the company, valued at $156,490.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincenzo J. Vena purchased 900 shares of FedEx stock in a transaction that occurred on Wednesday, July 6th. The shares were bought at an average price of $230.04 per share, with a total value of $207,036.00. Following the completion of the transaction, the director now owns 1,325 shares of the company’s stock, valued at approximately $304,803. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 48,810 shares of company stock worth $11,199,898. 8.62% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FedEx stock traded down $5.41 on Friday, reaching $149.13. 225,956 shares of the stock were exchanged, compared to its average volume of 4,134,571. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. FedEx Co. has a twelve month low of $150.34 and a twelve month high of $266.79. The firm has a market capitalization of $38.76 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.73 and a beta of 1.21. The business has a 50 day moving average price of $216.15 and a two-hundred day moving average price of $216.44.

FedEx (NYSE:FDXGet Rating) last released its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The firm had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.78 billion. During the same period last year, the firm earned $4.37 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 16.55 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, September 1st. FedEx’s dividend payout ratio (DPR) is 32.17%.

About FedEx

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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