Hardin Capital Partners LLC Buys Shares of 750 FedEx Co. (NYSE:FDX)

Hardin Capital Partners LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 750 shares of the shipping service provider’s stock, valued at approximately $225,000.

A number of other institutional investors have also modified their holdings of FDX. GHP Investment Advisors Inc. boosted its holdings in FedEx by 0.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 29,149 shares of the shipping service provider’s stock valued at $8,740,000 after acquiring an additional 239 shares during the period. Meeder Advisory Services Inc. boosted its stake in shares of FedEx by 40.1% in the second quarter. Meeder Advisory Services Inc. now owns 6,193 shares of the shipping service provider’s stock valued at $1,857,000 after purchasing an additional 1,772 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of FedEx by 2,127.6% in the second quarter. Meeder Asset Management Inc. now owns 646 shares of the shipping service provider’s stock valued at $194,000 after purchasing an additional 617 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in FedEx by 2.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,539 shares of the shipping service provider’s stock worth $3,460,000 after buying an additional 277 shares during the period. Finally, Eagle Strategies LLC acquired a new stake in FedEx during the 2nd quarter worth approximately $258,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly 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. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

FedEx Stock Up 0.5 %

Shares of NYSE:FDX opened at $286.16 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock’s 50-day moving average price is $293.32 and its two-hundred day moving average price is $273.05. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a market cap of $69.91 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during 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 was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.94 earnings per share. On average, research analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced 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. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Analyst Ratings Changes

Several research firms have commented on FDX. Wells Fargo & Company boosted their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Raymond James cut their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. TD Cowen began coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating 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 issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $314.67.

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.