Graypoint LLC Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Graypoint LLC raised its stake in FedEx Co. (NYSE:FDX) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,585 shares of the shipping service provider’s stock after purchasing an additional 131 shares during the period. Graypoint LLC’s holdings in FedEx were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Capital International Investors boosted its position in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Putnam Investments LLC grew its stake in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares during the last quarter. Norges Bank acquired a new position in FedEx during the 4th quarter valued at about $700,291,000. Finally, Mawer Investment Management Ltd. raised its stake in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FDX has been the topic of several research analyst reports. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Stephens restated an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. Morgan Stanley upped their target price on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Argus lifted their price objective on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Evercore ISI dropped their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a 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 given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $313.96.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred 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 owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, 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 owns 14,745 shares in the company, valued at approximately $4,345,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’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 sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

FedEx Stock Up 0.9 %

Shares of FDX opened at $298.77 on Monday. The firm has a market cap of $72.99 billion, a P/E ratio of 17.34, a PEG ratio of 1.08 and a beta of 1.18. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The stock’s 50 day moving average is $293.27 and its two-hundred day moving average is $270.47. 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 results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $4.94 EPS. Analysts predict that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

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.