Argent Trust Co Raises Holdings in FedEx Co. (NYSE:FDX)

Argent Trust Co boosted its stake in FedEx Co. (NYSE:FDX) by 1.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,875 shares of the shipping service provider’s stock after buying an additional 235 shares during the quarter. Argent Trust Co’s holdings in FedEx were worth $4,760,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FDX. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $25,000. Sachetta LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $32,000. Central Valley Advisors LLC acquired a new stake in FedEx during the second quarter worth approximately $39,000. Finally, Security National Bank acquired a new stake in FedEx during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated 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 $17,634,640.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America increased their target price on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. TD Cowen assumed coverage on shares of FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 target price for the company. Raymond James cut their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Finally, Morgan Stanley upped their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.67.

FedEx Trading Up 1.6 %

Shares of NYSE:FDX opened at $297.36 on Wednesday. The firm has a fifty day moving average of $293.20 and a two-hundred day moving average of $274.45. The company has a quick ratio of 1.32, a current ratio of 1.36 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 firm has a market capitalization of $73.17 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results 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 company had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the firm posted $4.94 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

FedEx Company 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.