Romano Brothers AND Company Lowers Position in FedEx Co. (NYSE:FDX)

Romano Brothers AND Company reduced its stake in FedEx Co. (NYSE:FDX) by 0.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 37,261 shares of the shipping service provider’s stock after selling 124 shares during the quarter. FedEx accounts for approximately 1.4% of Romano Brothers AND Company’s portfolio, making the stock its 13th biggest position. Romano Brothers AND Company’s holdings in FedEx were worth $9,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FDX. RB Capital Management LLC raised its position in FedEx by 3.3% in the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock valued at $451,000 after buying an additional 63 shares during the last quarter. AMI Investment Management Inc. increased its position in shares of FedEx by 43.9% during the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after purchasing an additional 4,693 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of FedEx by 101.5% during the 1st quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after purchasing an additional 2,153 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of FedEx by 7.8% during the 1st quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after purchasing an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of FedEx by 553.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after purchasing an additional 332 shares during the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FDX shares. Argus raised their target price on FedEx from $240.00 to $260.00 in a research report on Monday, June 26th. Atlantic Securities assumed coverage on FedEx in a research note on Tuesday, June 6th. They set an “overweight” rating and a $265.00 price target for the company. Stephens reiterated an “overweight” rating and set a $290.00 price target on shares of FedEx in a research note on Friday, August 11th. Credit Suisse Group cut their price target on FedEx from $273.00 to $265.00 in a research note on Wednesday, June 21st. Finally, StockNews.com assumed coverage on FedEx in a research note on Thursday, August 17th. They set a “buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $254.30.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the transaction, the executive vice president now directly owns 58,875 shares of the company’s stock, valued at approximately $14,483,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Jennifer L. Johnson sold 10,801 shares of FedEx stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the sale, the vice president now directly owns 3,196 shares in the company, valued at approximately $762,597.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now owns 58,875 shares in the company, valued at $14,483,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,816 shares of company stock valued at $8,822,147. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX traded down $2.87 during trading hours on Tuesday, reaching $246.43. 830,809 shares of the stock traded hands, compared to its average volume of 1,943,994. The company has a market capitalization of $61.98 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. FedEx Co. has a 52-week low of $141.92 and a 52-week high of $270.95. The company’s 50-day simple moving average is $261.00 and its two-hundred day simple moving average is $238.32.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. FedEx’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $6.87 EPS. Equities research analysts forecast that FedEx Co. will post 17.38 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a dividend of $1.26 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.05%. FedEx’s dividend payout ratio is 32.52%.

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.