FedEx Co. (NYSE:FDX) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,861 shares of the shipping service provider’s stock after selling 185 shares during the quarter. FedEx accounts for approximately 0.9% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 19th biggest position. Mesirow Financial Investment Management Inc.’s holdings in FedEx were worth $41,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC increased its holdings in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC increased its stake in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC raised its position in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its stake 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 worth $480,000 after acquiring an additional 37 shares during the period. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

FedEx stock opened at $286.38 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a fifty day moving average of $293.17 and a two-hundred day moving average of $273.79. The company has a market capitalization of $70.47 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the company posted $4.94 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal 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 given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx 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 transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on FDX. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Argus raised their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. The Goldman Sachs Group upped their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Raymond James cut their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.67.

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.