Fairfield Financial Advisors LTD Takes Position in FedEx Co. (NYSE:FDX)

Fairfield Financial Advisors LTD acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 307 shares of the shipping service provider’s stock, valued at approximately $92,000.

Other hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC boosted its position in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in FedEx during the fourth quarter worth $25,000. Sachetta LLC bought a new position in FedEx in the fourth quarter valued at $32,000. Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at $39,000. Finally, Security National Bank bought a new stake in FedEx during the 4th quarter worth about $44,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FDX shares. The Goldman Sachs Group raised their price objective on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Argus boosted their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Evercore ISI cut their price objective on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday. TD Cowen began coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 target price for the company. Finally, StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.67.

FedEx Trading Up 0.1 %

Shares of FedEx stock opened at $286.38 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a 50-day moving average of $293.17 and a 200-day moving average of $273.79. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The stock has a market cap of $70.47 billion, a PE ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17.

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

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of FedEx 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 completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by company insiders.

About FedEx

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.