Sargent Investment Group LLC Increases Stake in FedEx Corporation (NYSE:FDX)

Sargent Investment Group LLC grew its position in FedEx Corporation (NYSE:FDX - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,079 shares of the shipping service provider's stock after acquiring an additional 1,290 shares during the quarter. Sargent Investment Group LLC's holdings in FedEx were worth $2,945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in shares of FedEx by 20.6% in the first quarter. Lindbrook Capital LLC now owns 1,686 shares of the shipping service provider's stock worth $411,000 after purchasing an additional 288 shares during the last quarter. Heritage Investors Management Corp grew its holdings in FedEx by 7.2% during the 1st quarter. Heritage Investors Management Corp now owns 98,951 shares of the shipping service provider's stock worth $24,122,000 after acquiring an additional 6,629 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in FedEx by 3.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,345 shares of the shipping service provider's stock worth $4,228,000 after acquiring an additional 659 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in FedEx by 250.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 5,275 shares of the shipping service provider's stock worth $1,286,000 after acquiring an additional 3,770 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in FedEx by 5.6% during the 1st quarter. IFP Advisors Inc now owns 7,149 shares of the shipping service provider's stock worth $1,743,000 after acquiring an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FDX. Cowen reiterated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $260.00 target price (down from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Wells Fargo & Company lifted their price target on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. Bank of America dropped their price target on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Finally, Stifel Nicolaus set a $315.00 price target on shares of FedEx in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and an average target price of $283.25.

Insider Transactions at FedEx

In other news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the sale, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,343 shares of company stock valued at $2,228,816. Corporate insiders own 8.87% of the company's stock.

FedEx Trading Down 0.8%

NYSE:FDX opened at $226.64 on Friday. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $308.53. The firm has a market capitalization of $54.30 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.18 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The business has a 50 day simple moving average of $226.63 and a 200 day simple moving average of $238.17.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the previous year, the firm posted $5.41 EPS. Equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 34.36%.

FedEx Profile

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.

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