Rockport Wealth LLC Takes $476,000 Position in FedEx Co. (NYSE:FDX)

Rockport Wealth LLC bought a new stake in FedEx Co. (NYSE:FDX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,644 shares of the shipping service provider’s stock, valued at approximately $476,000.

A number of other hedge funds have also modified their holdings of the business. Fidelis Capital Partners LLC raised its position in shares of FedEx by 4.1% in the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after buying an additional 39 shares during the last quarter. KRS Capital Management LLC grew its holdings in shares of FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares during the period. Zullo Investment Group Inc. grew its holdings in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after purchasing an additional 42 shares during the period. Regent Peak Wealth Advisors LLC grew its holdings in shares of FedEx by 3.5% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock valued at $369,000 after purchasing an additional 43 shares during the period. Finally, Toth Financial Advisory Corp grew its holdings in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after purchasing an additional 44 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction 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 $17,634,640.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Down 2.2 %

NYSE:FDX traded down $6.63 during mid-day trading on Tuesday, hitting $300.80. The stock had a trading volume of 2,228,608 shares, compared to its average volume of 1,927,108. The stock has a 50-day simple moving average of $269.80 and a two-hundred day simple moving average of $261.08. The company has a market capitalization of $73.49 billion, a PE ratio of 17.51, a PEG ratio of 1.11 and a beta of 1.18. 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.

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, 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 for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the company earned $4.94 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Robert W. Baird increased their target price on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. TD Cowen increased their target price on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group increased their target price on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.00.

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.