Sage Capital Advisors llc Buys 86 Shares of FedEx Co. (NYSE:FDX)

Sage Capital Advisors llc raised its stake in shares of FedEx Co. (NYSE:FDX) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,898 shares of the shipping service provider’s stock after buying an additional 86 shares during the quarter. FedEx comprises 2.4% of Sage Capital Advisors llc’s portfolio, making the stock its 8th biggest position. Sage Capital Advisors llc’s holdings in FedEx were worth $6,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Sciencast Management LP acquired a new position in shares of FedEx in the 2nd quarter valued at $762,000. Cardinal Capital Management increased its holdings in shares of FedEx by 1.2% in the second quarter. Cardinal Capital Management now owns 14,636 shares of the shipping service provider’s stock worth $3,646,000 after acquiring an additional 176 shares in the last quarter. First National Bank of South Miami raised its position in shares of FedEx by 12.9% during the second quarter. First National Bank of South Miami now owns 673 shares of the shipping service provider’s stock worth $167,000 after purchasing an additional 77 shares during the period. Birch Capital Management LLC lifted its holdings in shares of FedEx by 7.9% during the 2nd quarter. Birch Capital Management LLC now owns 13,725 shares of the shipping service provider’s stock valued at $3,402,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Northwest Investment Counselors LLC grew its position in shares of FedEx by 81.1% in the 2nd quarter. Northwest Investment Counselors LLC now owns 1,197 shares of the shipping service provider’s stock valued at $297,000 after purchasing an additional 536 shares during the period. 73.61% of the stock is owned by institutional investors.

FedEx Stock Performance

FDX traded down $1.09 during trading hours on Tuesday, reaching $248.21. The company’s stock had a trading volume of 467,252 shares, compared to its average volume of 1,941,547. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.33 and a current ratio of 1.37. The company’s 50-day moving average is $261.00 and its 200-day moving average is $238.32. FedEx Co. has a 52 week low of $141.92 and a 52 week high of $270.95. The firm has a market cap of $62.43 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.09. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The company had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.55 billion. During the same quarter last year, the company posted $6.87 EPS. FedEx’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 17.38 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, September 8th. FedEx’s payout ratio is 32.52%.

Analyst Ratings Changes

Several analysts have commented on FDX shares. The Goldman Sachs Group raised their target price on shares of FedEx from $269.00 to $278.00 in a report on Wednesday, September 13th. Sanford C. Bernstein boosted their price objective on shares of FedEx from $261.00 to $284.00 in a research report on Wednesday, June 21st. UBS Group increased their target price on FedEx from $272.00 to $312.00 in a report on Friday, September 1st. Atlantic Securities assumed coverage on FedEx in a report on Tuesday, June 6th. They issued an “overweight” rating and a $265.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on FedEx from $240.00 to $270.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.30.

Insider Transactions at FedEx

In related news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now directly owns 3,196 shares in the company, valued at approximately $762,597.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now owns 58,875 shares in the company, valued at approximately $14,483,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the completion of the sale, the vice president now directly owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,816 shares of company stock worth $8,822,147. Company insiders own 8.73% of the company’s stock.

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.