Heritage Wealth Management LLC Acquires 60 Shares of FedEx Co. (NYSE:FDX)

Heritage Wealth Management LLC grew its position in FedEx Co. (NYSE:FDX) by 125.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 108 shares of the shipping service provider’s stock after purchasing an additional 60 shares during the quarter. Heritage Wealth Management LLC’s holdings in FedEx were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Lazard Asset Management LLC raised its holdings in FedEx by 980.7% in the first quarter. Lazard Asset Management LLC now owns 1,270,674 shares of the shipping service provider’s stock worth $360,921,000 after purchasing an additional 1,153,097 shares during the period. Citigroup Inc. raised its holdings in FedEx by 10,682.3% in the first quarter. Citigroup Inc. now owns 394,404 shares of the shipping service provider’s stock worth $112,026,000 after purchasing an additional 398,131 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of FedEx by 100.1% during the second quarter. Lord Abbett & CO. LLC now owns 766,348 shares of the shipping service provider’s stock worth $228,625,000 after acquiring an additional 383,348 shares during the period. AQR Capital Management LLC raised its holdings in shares of FedEx by 58.7% during the first quarter. AQR Capital Management LLC now owns 904,172 shares of the shipping service provider’s stock worth $256,821,000 after acquiring an additional 334,501 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of FedEx by 290.6% during the first quarter. Nordea Investment Management AB now owns 336,820 shares of the shipping service provider’s stock worth $96,395,000 after acquiring an additional 250,579 shares during the period. Institutional investors own 72.64% of the company’s stock.

Shares of NYSE:FDX opened at $226.64 on Friday. The firm has a 50 day moving average of $269.71 and a 200-day moving average of $284.37. The stock has a market capitalization of $60.33 billion, a PE ratio of 11.65, a PEG ratio of 1.01 and a beta of 1.22. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.86. FedEx Co. has a 12 month low of $226.60 and a 12 month high of $319.90.

FedEx (NYSE:FDX) last issued its earnings results on Monday, September 20th. The shipping service provider reported $4.37 EPS for the quarter, missing the consensus estimate of $4.92 by ($0.55). The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 6.23% and a return on equity of 22.55%. FedEx’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.87 earnings per share. On average, research analysts predict that FedEx Co. will post 21.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, September 2nd. FedEx’s dividend payout ratio is 16.51%.

In related news, EVP Robert B. Carter sold 16,235 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the completion of the transaction, the executive vice president now directly owns 68,680 shares in the company, valued at approximately $20,580,648.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 4,720 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $297.30, for a total transaction of $1,403,256.00. Following the sale, the director now directly owns 10,312 shares in the company, valued at $3,065,757.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,240 shares of company stock valued at $9,608,596. 8.16% of the stock is owned by corporate insiders.

A number of brokerages recently commented on FDX. KeyCorp dropped their price objective on shares of FedEx from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a report on Wednesday. DZ Bank restated a “sell” rating on shares of FedEx in a report on Friday, June 25th. Stifel Nicolaus decreased their target price on shares of FedEx from $344.00 to $283.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of FedEx from $346.00 to $329.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $323.92.

FedEx Company Profile

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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