Naples Global Advisors LLC Grows Stake in FedEx Co. (NYSE:FDX)

Naples Global Advisors LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,940 shares of the shipping service provider’s stock after acquiring an additional 75 shares during the quarter. Naples Global Advisors LLC’s holdings in FedEx were worth $1,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $25,000. Private Wealth Management Group LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in FedEx during the fourth quarter valued at approximately $30,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in FedEx during the 4th quarter worth approximately $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, EVP Robert B. Carter sold 16,010 shares of the 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 $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now 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 valued at $9,882,355. 8.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Argus lifted their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. StockNews.com raised FedEx from a “buy” rating to a “strong-buy” rating in a research note on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Evercore ISI cut their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Finally, The Goldman Sachs Group upped their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Stock Up 0.4 %

FedEx stock traded up $1.22 during mid-day trading on Friday, hitting $285.40. The company had a trading volume of 1,318,335 shares, compared to its average volume of 1,867,482. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a market capitalization of $70.23 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The stock’s 50 day moving average price is $284.45 and its two-hundred day moving average price is $266.37. 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 announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.94 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. FedEx’s payout ratio is currently 32.04%.

FedEx Company 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.