Family Management Corp Grows Stake in FedEx Co. (NYSE:FDX)

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Family Management Corp grew its holdings in FedEx Co. (NYSE:FDX) by 1.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,346 shares of the shipping service provider’s stock after acquiring an additional 228 shares during the quarter. Family Management Corp’s holdings in FedEx were worth $2,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wunderlich Capital Managemnt boosted its holdings in FedEx by 2.4% in the second quarter. Wunderlich Capital Managemnt now owns 13,029 shares of the shipping service provider’s stock worth $2,139,000 after purchasing an additional 300 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in FedEx during the second quarter valued at about $5,160,000. Morgan Stanley boosted its holdings in FedEx by 26.7% during the second quarter. Morgan Stanley now owns 2,025,572 shares of the shipping service provider’s stock valued at $332,579,000 after acquiring an additional 427,019 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in FedEx by 31.7% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,367 shares of the shipping service provider’s stock worth $553,000 after purchasing an additional 811 shares in the last quarter. Finally, Man Group plc raised its position in FedEx by 38.6% in the second quarter. Man Group plc now owns 9,265 shares of the shipping service provider’s stock worth $1,521,000 after purchasing an additional 2,582 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Several research firms have recently weighed in on FDX. UBS Group dropped their price objective on shares of FedEx from $136.00 to $132.00 and set a “sell” rating for the company in a report on Wednesday. Barclays reaffirmed a “buy” rating and issued a $185.00 price objective on shares of FedEx in a research note on Thursday, June 13th. Robert W. Baird reduced their price objective on shares of FedEx from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of FedEx from $131.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Edward Jones cut shares of FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $175.96.

FDX stock traded down $1.00 during midday trading on Friday, hitting $151.45. The company’s stock had a trading volume of 902,213 shares, compared to its average volume of 1,733,118. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39. FedEx Co. has a twelve month low of $147.82 and a twelve month high of $250.95. The company’s fifty day moving average price is $160.65 and its 200 day moving average price is $170.59. The stock has a market capitalization of $45.20 billion, a P/E ratio of 9.76, a PEG ratio of 0.93 and a beta of 1.69.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.12). The firm had revenue of $17.05 billion for the quarter, compared to analyst estimates of $17.05 billion. FedEx had a return on equity of 20.92% and a net margin of 0.65%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.46 earnings per share. Equities analysts expect that FedEx Co. will post 14.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 annualized dividend and a dividend yield of 1.72%. FedEx’s dividend payout ratio is presently 16.75%.

In related news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at approximately $12,031,437.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is owned by insiders.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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