Capstone Wealth Management Group LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Capstone Wealth Management Group LLC purchased a new stake in FedEx Co. (NYSE:FDX) in the second quarter, according to its most recent filing with the SEC. The fund purchased 1,025 shares of the shipping service provider’s stock, valued at approximately $307,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of FedEx during the fourth quarter valued at $700,291,000. Capital International Investors lifted its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC acquired a new position in FedEx during the 4th quarter valued at about $307,007,000. Vanguard Group Inc. grew its position in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on FDX. TD Cowen began coverage on FedEx in a research report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 target price on the stock. UBS Group cut their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Argus increased their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus restated a “buy” rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.67.

FedEx Price Performance

FDX opened at $292.63 on Tuesday. FedEx Co. has a 12-month low of $224.69 and a 12-month 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 capitalization of $72.01 billion, a P/E ratio of 16.98, a PEG ratio of 1.03 and a beta of 1.17. The stock has a fifty day moving average of $293.11 and a 200-day moving average of $274.10.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $22.04 billion. During the same period in the prior year, the business earned $4.94 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts forecast that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by company insiders.

FedEx 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.