Intelligence Driven Advisers LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Intelligence Driven Advisers LLC bought a new position in FedEx Co. (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 827 shares of the shipping service provider’s stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter valued at $25,000. Fortis Group Advisors LLC lifted its holdings in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of FedEx during the 4th quarter valued at $28,000. Sachetta LLC acquired a new position in shares of FedEx during the 4th quarter valued at $32,000. Finally, Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX traded down $2.27 during trading on Friday, reaching $283.04. The company had a trading volume of 1,117,464 shares, compared to its average volume of 1,787,930. The firm’s fifty day moving average is $294.25 and its 200 day moving average is $271.87. The firm has a market capitalization of $69.65 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping 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 company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the business posted $4.94 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 20.87 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FDX shares. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. Finally, Evercore ISI dropped their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’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 sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx 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 value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s 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 owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Insiders own 8.73% of the company’s stock.

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.