Founders Financial Securities LLC Sells 120 Shares of FedEx Co. (NYSE:FDX)

Founders Financial Securities LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 4.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,359 shares of the shipping service provider’s stock after selling 120 shares during the quarter. Founders Financial Securities LLC’s holdings in FedEx were worth $707,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors boosted its position in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Putnam Investments LLC boosted its position in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the period. Norges Bank bought a new stake in shares of FedEx in the fourth quarter valued at approximately $700,291,000. Finally, Mawer Investment Management Ltd. boosted its position in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $292.70 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a market cap of $71.51 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.08 and a beta of 1.18. The business’s 50-day simple moving average is $294.78 and its 200 day simple moving average is $271.45.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) 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 firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the business earned $4.94 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 20.87 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Activity

In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated 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 transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI cut their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Wells Fargo & Company upped their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus reiterated 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. Finally, StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

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.