OLD National Bancorp IN Boosts Holdings in FedEx Co. (NYSE:FDX)

OLD National Bancorp IN lifted its stake in shares of FedEx Co. (NYSE:FDX) by 13.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,850 shares of the shipping service provider’s stock after acquiring an additional 450 shares during the period. OLD National Bancorp IN’s holdings in FedEx were worth $1,154,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Richard P Slaughter Associates Inc boosted its holdings in shares of FedEx by 0.4% in the second quarter. Richard P Slaughter Associates Inc now owns 8,573 shares of the shipping service provider’s stock valued at $2,570,000 after acquiring an additional 38 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in FedEx by 4.1% during the 1st quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after purchasing an additional 39 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its position in shares of FedEx by 3.5% during the 1st quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after purchasing an additional 43 shares during the period. Toth Financial Advisory Corp raised its stake in shares of FedEx by 18.0% in the 4th quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after buying an additional 44 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in shares of FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after buying an additional 44 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Morgan Stanley boosted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Wells Fargo & Company increased their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Finally, TD Cowen increased their price objective on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

FedEx Stock Down 0.4 %

Shares of NYSE:FDX traded down $1.08 during trading on Friday, reaching $277.54. 1,256,124 shares of the company traded hands, compared to its average volume of 1,890,226. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. 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 has a market cap of $68.30 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The firm has a fifty day simple moving average of $280.96 and a 200 day simple moving average of $265.25.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $22.04 billion. During the same quarter last year, the firm earned $4.94 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is currently 32.04%.

Insider Activity at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

FedEx Company 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.