Triangle Securities Wealth Management increased its stake in shares of FedEx Co. (NYSE:FDX) by 11.8% during the second quarter, HoldingsChannel reports. The fund owned 5,361 shares of the shipping service provider’s stock after acquiring an additional 565 shares during the quarter. Triangle Securities Wealth Management’s holdings in FedEx were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in FDX. Cordasco Financial Network boosted its stake in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Covenant Multifamily Offices LLC acquired a new stake in shares of FedEx in the 1st quarter valued at $29,000. Evolution Wealth Advisors LLC acquired a new stake in shares of FedEx in the 1st quarter valued at $31,000. Advocacy Wealth Management Services LLC boosted its stake in shares of FedEx by 52.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 63 shares in the last quarter. Finally, Endurance Wealth Management Inc. boosted its stake in shares of FedEx by 375.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. 69.21% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on FDX shares. TheStreet downgraded shares of Zumiez from a “b” rating to a “c+” rating in a research note on Thursday, June 6th. Deutsche Bank restated a “hold” rating and issued a GBX 1,775 ($23.19) target price on shares of in a research note on Wednesday, June 26th. Berenberg Bank reduced their target price on shares of from GBX 4,600 ($60.11) to GBX 3,800 ($49.65) and set a “hold” rating on the stock in a research note on Friday, June 28th. Cowen restated an “outperform” rating and issued a $228.00 target price (down previously from $230.00) on shares of FedEx in a research note on Thursday, June 20th. Finally, Stephens started coverage on shares of Cable One in a research note on Wednesday, June 26th. They issued an “equal weight” rating and a $1,200.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $191.63.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the completion of the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
Shares of NYSE:FDX opened at $176.01 on Thursday. The company has a market cap of $45.32 billion, a PE ratio of 11.34, a P/E/G ratio of 0.94 and a beta of 1.65. FedEx Co. has a 1-year low of $150.68 and a 1-year high of $259.25. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39. The stock’s 50-day moving average price is $163.89.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.93 by $0.08. The firm had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.91 EPS. Sell-side analysts expect that FedEx Co. will post 14.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Monday, June 24th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, June 21st. This represents a $2.60 annualized dividend and a yield of 1.48%. FedEx’s dividend payout ratio is currently 16.75%.
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.
Recommended Story: How to start trading in the forex market?
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.