Wharton Business Group LLC Acquires 515 Shares of FedEx Co. (NYSE:FDX)

Wharton Business Group LLC increased its holdings in shares of FedEx Co. (NYSE:FDXGet Rating) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,495 shares of the shipping service provider’s stock after acquiring an additional 515 shares during the quarter. Wharton Business Group LLC’s holdings in FedEx were worth $1,040,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Holloway Wealth Management LLC purchased a new stake in FedEx in the first quarter worth $29,000. Byrne Asset Management LLC purchased a new stake in FedEx in the fourth quarter worth $36,000. Rockbridge Investment Management LCC increased its position in FedEx by 344.1% in the fourth quarter. Rockbridge Investment Management LCC now owns 151 shares of the shipping service provider’s stock worth $39,000 after buying an additional 117 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new stake in FedEx in the first quarter worth $35,000. Finally, Vectors Research Management LLC increased its position in FedEx by 226.0% in the fourth quarter. Vectors Research Management LLC now owns 163 shares of the shipping service provider’s stock worth $42,000 after buying an additional 113 shares during the last quarter. 71.62% of the stock is currently owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane purchased 607 shares of FedEx stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the acquisition, the director now directly owns 686 shares in the company, valued at $156,490.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FedEx news, Director Amy B. Lane purchased 607 shares of FedEx stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the acquisition, the director now directly owns 686 shares in the company, valued at $156,490.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brie Carere sold 11,235 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares in the company, valued at approximately $3,745,359.10. The disclosure for this sale can be found here. Insiders have sold a total of 48,810 shares of company stock worth $11,199,898 in the last 90 days. Company insiders own 8.62% of the company’s stock.

FedEx Trading Down 4.0 %

NYSE FDX opened at $205.34 on Wednesday. FedEx Co. has a 1-year low of $192.82 and a 1-year high of $266.79. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average of $223.52 and a 200-day moving average of $218.61. The firm has a market cap of $53.37 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.75 and a beta of 1.21.

FedEx (NYSE:FDXGet Rating) last released its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). FedEx had a net margin of 4.09% and a return on equity of 22.29%. The company had revenue of $24.39 billion during the quarter, compared to the consensus estimate of $24.28 billion. During the same period last year, the firm posted $5.01 EPS. As a group, sell-side analysts forecast that FedEx Co. will post 23.16 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a yield of 2.24%. FedEx’s dividend payout ratio is presently 32.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays set a $320.00 price target on FedEx in a research report on Friday, June 24th. Wells Fargo & Company reduced their price target on FedEx from $282.00 to $269.00 and set an “overweight” rating for the company in a research report on Thursday, September 8th. Citigroup cut FedEx from a “buy” rating to a “neutral” rating and reduced their price target for the company from $270.00 to $225.00 in a research report on Tuesday, September 6th. KeyCorp lifted their price target on FedEx from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, June 30th. Finally, The Goldman Sachs Group dropped their price objective on FedEx from $331.00 to $291.00 and set a “buy” rating for the company in a research note on Tuesday, June 7th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $292.35.

FedEx Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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