Lmcg Investments LLC Raises Position in FedEx Co. (NYSE:FDX)

Lmcg Investments LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 1.7% during the second quarter, HoldingsChannel reports. The fund owned 61,773 shares of the shipping service provider’s stock after acquiring an additional 1,053 shares during the quarter. FedEx comprises 1.1% of Lmcg Investments LLC’s holdings, making the stock its 17th biggest position. Lmcg Investments LLC’s holdings in FedEx were worth $18,522,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI lifted its holdings in shares of FedEx by 74.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,270 shares of the shipping service provider’s stock valued at $381,000 after buying an additional 542 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after acquiring an additional 121,240 shares during the period. Keene & Associates Inc. boosted its position in shares of FedEx by 0.9% during the 2nd quarter. Keene & Associates Inc. now owns 14,375 shares of the shipping service provider’s stock worth $4,310,000 after purchasing an additional 126 shares in the last quarter. Abound Wealth Management grew its stake in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of FedEx in the 2nd quarter valued at about $92,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 2.2 %

Shares of FDX opened at $292.63 on Tuesday. The stock’s fifty day simple moving average is $293.11 and its 200 day simple moving average is $274.10. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 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 price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.94 EPS. On average, equities research analysts forecast that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed 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. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Analyst Ratings Changes

A number of research firms recently commented on FDX. Evercore ISI decreased their price objective on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. TD Cowen started coverage on FedEx in a report on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective for the company. The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Bank of America lifted their price target on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.67.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of the 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 completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale 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 company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

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.