Wedbush Securities Inc. Sells 263 Shares of FedEx Co. (NYSE:FDX)

Wedbush Securities Inc. decreased its stake in FedEx Co. (NYSE:FDX) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,387 shares of the shipping service provider’s stock after selling 263 shares during the period. Wedbush Securities Inc.’s holdings in FedEx were worth $2,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SeaCrest Wealth Management LLC increased its holdings in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC increased its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC raised its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after acquiring an additional 37 shares during the last quarter. Finally, Richard P Slaughter Associates Inc lifted its stake 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 worth $2,570,000 after acquiring an additional 38 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX opened at $283.30 on Tuesday. The firm has a market cap of $69.71 billion, a P/E ratio of 16.44, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm has a 50-day moving average of $293.94 and a 200 day moving average of $272.59.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter in the previous year, the firm posted $4.94 EPS. FedEx’s revenue was up .8% on a year-over-year basis. On average, research analysts expect that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Guy M. Erwin II sold 116 shares of the firm’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 transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FDX. Robert W. Baird raised their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Wells Fargo & Company boosted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Evercore ISI lowered their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, TD Cowen assumed coverage on shares of FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

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.