L & S Advisors Inc Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

L & S Advisors Inc lessened its holdings in FedEx Co. (NYSE:FDX) by 16.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,760 shares of the shipping service provider’s stock after selling 1,575 shares during the period. L & S Advisors Inc’s holdings in FedEx were worth $2,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Axxcess Wealth Management LLC raised its stake in FedEx by 4.4% in the second quarter. Axxcess Wealth Management LLC now owns 22,325 shares of the shipping service provider’s stock worth $6,694,000 after buying an additional 941 shares in the last quarter. Sargent Investment Group LLC raised its position in shares of FedEx by 54.1% in the 2nd quarter. Sargent Investment Group LLC now owns 5,788 shares of the shipping service provider’s stock worth $1,735,000 after acquiring an additional 2,031 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new stake in shares of FedEx during the 2nd quarter worth $1,976,000. Capstone Wealth Management Group LLC bought a new stake in FedEx during the second quarter valued at about $307,000. Finally, Alpha Financial Partners LLC grew its stake in FedEx by 8.3% in the second quarter. Alpha Financial Partners LLC now owns 831 shares of the shipping service provider’s stock valued at $249,000 after purchasing an additional 64 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent analyst reports. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Robert W. Baird reissued an “outperform” rating and set a $340.00 target price on shares of FedEx in a research report on Friday. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Evercore ISI reduced their target price on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.67.

FedEx Price Performance

Shares of FedEx stock opened at $292.63 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The stock 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 business has a 50 day simple moving average of $293.11 and a two-hundred day simple moving average of $274.10.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.94 earnings per share. As a group, analysts predict that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

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

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.