995 Shares in FedEx Co. (NYSE:FDX) Bought by Keynote Financial Services LLC

Keynote Financial Services LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 995 shares of the shipping service provider’s stock, valued at approximately $288,000.

Other institutional investors have also made changes to their positions in the company. Parsons Capital Management Inc. RI grew its stake in FedEx by 11.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 2,059 shares of the shipping service provider’s stock valued at $521,000 after acquiring an additional 216 shares during the period. FAS Wealth Partners Inc. acquired a new position in FedEx in the fourth quarter valued at about $216,000. Stonegate Investment Group LLC acquired a new position in FedEx in the fourth quarter valued at about $235,000. Coastline Trust Co grew its stake in FedEx by 84.3% in the fourth quarter. Coastline Trust Co now owns 3,548 shares of the shipping service provider’s stock valued at $898,000 after acquiring an additional 1,623 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in FedEx by 6.0% in the fourth quarter. DAVENPORT & Co LLC now owns 62,650 shares of the shipping service provider’s stock valued at $15,849,000 after acquiring an additional 3,556 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stephens restated an “overweight” rating and issued a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Robert W. Baird boosted their price target on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. The Goldman Sachs Group boosted their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Evercore ISI cut their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. Finally, Bank of America boosted their price target on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

FedEx Price Performance

NYSE:FDX traded down $5.53 during trading hours on Friday, reaching $292.30. 2,252,729 shares of the company were exchanged, compared to its average volume of 1,523,840. The company has a market capitalization 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. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The business has a 50 day moving average of $277.79 and a 200 day moving average of $264.18.

FedEx (NYSE:FDX) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.94 earnings per share. Research analysts forecast that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

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

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was 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 of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate 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.