Transcend Capital Advisors LLC Has $1.64 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Transcend Capital Advisors LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 18.8% during the second quarter, HoldingsChannel.com reports. The firm owned 5,479 shares of the shipping service provider’s stock after purchasing an additional 867 shares during the period. Transcend Capital Advisors LLC’s holdings in FedEx were worth $1,643,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FDX. Sentry LLC acquired a new stake in shares of FedEx during the fourth quarter valued at about $1,811,748,000. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter valued at about $700,291,000. Capital International Investors boosted its stake in shares of FedEx by 32.5% during the first 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of FedEx by 38.1% during 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 in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 1.9 %

Shares of NYSE:FDX traded down $5.53 during mid-day trading on Friday, hitting $292.30. 2,252,729 shares of the company traded hands, compared to its average volume of 1,523,840. The stock has a market cap of $71.93 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a 50-day moving average price of $277.79 and a two-hundred day moving average price of $264.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share 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 business 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 earned $4.94 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were given a $1.38 dividend. The ex-dividend date was Monday, June 24th. This represents a $5.52 annualized dividend and a yield of 1.89%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

Insiders Place Their Bets

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. Insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FDX. Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Wells Fargo & Company raised their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Morgan Stanley raised their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $296.00 to $359.00 in a research report on Wednesday, June 26th. Finally, Argus raised their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.00.

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.