North Star Asset Management Inc. Decreases Stake in FedEx Co. (NYSE:FDX)

North Star Asset Management Inc. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,473 shares of the shipping service provider’s stock after selling 1,592 shares during the quarter. North Star Asset Management Inc.’s holdings in FedEx were worth $19,931,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC increased its position in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC increased its position in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC raised its stake in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Richard P Slaughter Associates Inc increased its holdings in shares of FedEx by 0.4% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 8,573 shares of the shipping service provider’s stock worth $2,570,000 after buying an additional 38 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Bank of America boosted their price target on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Raymond James decreased their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Morgan Stanley boosted their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $313.96.

Insider Buying and Selling at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last ninety days. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

FDX opened at $283.37 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $294.25 and its 200 day moving average price is $271.87. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm has a market cap of $69.73 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the firm earned $4.94 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 20.87 earnings per share for the current year.

FedEx Announces Dividend

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 dividend yield of 1.95%. FedEx’s dividend payout ratio (DPR) 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.