B. Riley Wealth Advisors Inc. Cuts Stock Position in FedEx Co. (NYSE:FDX)

B. Riley Wealth Advisors Inc. lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 22.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,815 shares of the shipping service provider’s stock after selling 3,129 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in FedEx were worth $3,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. Jones Financial Companies Lllp lifted its stake in shares of FedEx by 9.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,763 shares of the shipping service provider’s stock valued at $446,000 after purchasing an additional 149 shares during the last quarter. NEOS Investment Management LLC lifted its position in FedEx by 45.8% in the fourth quarter. NEOS Investment Management LLC now owns 3,257 shares of the shipping service provider’s stock worth $824,000 after buying an additional 1,023 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in FedEx by 6.3% during the fourth quarter. Rafferty Asset Management LLC now owns 22,649 shares of the shipping service provider’s stock worth $5,730,000 after buying an additional 1,346 shares during the period. CIBC Private Wealth Group LLC increased its position in FedEx by 2.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 31,480 shares of the shipping service provider’s stock valued at $7,963,000 after acquiring an additional 700 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in shares of FedEx in the fourth quarter valued at $524,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FDX shares. UBS Group dropped their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Argus boosted their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Bernstein Bank increased their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company increased their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.74.

FedEx Stock Down 1.5 %

NYSE:FDX opened at $269.56 on Wednesday. The company’s 50-day simple moving average is $286.76 and its 200-day simple moving average is $275.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a market capitalization of $66.33 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the firm posted $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insiders Place Their Bets

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value 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 legal filing with the SEC, which is available through this hyperlink. In other news, 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 sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,914 shares of company stock valued at $3,978,338. Insiders own 8.73% of the company’s stock.

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.