Ellerson Group Inc. ADV Sells 445 Shares of FedEx Co. (NYSE:FDX)

Ellerson Group Inc. ADV cut its holdings in shares of FedEx Co. (NYSE:FDX) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,117 shares of the shipping service provider’s stock after selling 445 shares during the quarter. FedEx accounts for 4.1% of Ellerson Group Inc. ADV’s investment portfolio, making the stock its 5th largest position. Ellerson Group Inc. ADV’s holdings in FedEx were worth $5,432,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FDX. Precision Wealth Strategies LLC acquired a new stake in shares of FedEx in the 4th quarter valued at $324,000. AGF Management Ltd. raised its holdings in shares of FedEx by 104.1% in the 4th quarter. AGF Management Ltd. now owns 11,401 shares of the shipping service provider’s stock valued at $2,884,000 after purchasing an additional 5,816 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of FedEx by 141.3% in the 4th quarter. QRG Capital Management Inc. now owns 28,872 shares of the shipping service provider’s stock valued at $7,304,000 after purchasing an additional 16,909 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of FedEx by 11.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 16,339 shares of the shipping service provider’s stock valued at $4,133,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of FedEx by 7.7% in the 4th quarter. Ieq Capital LLC now owns 13,466 shares of the shipping service provider’s stock valued at $3,407,000 after purchasing an additional 966 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on FDX shares. The Goldman Sachs Group lifted their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Robert W. Baird lifted their price target on shares of FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Wells Fargo & Company lifted 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. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price target (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $313.96.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the firm’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 transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the firm’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 transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Up 0.6 %

Shares of NYSE FDX opened at $283.30 on Tuesday. The firm’s 50-day moving average is $293.94 and its two-hundred day moving average is $272.59. The company has a market capitalization of $69.71 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last posted 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. 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 analyst estimates of $22.04 billion. During the same quarter in the prior year, the company earned $4.94 EPS. FedEx’s revenue was up .8% on a year-over-year basis. Equities analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. FedEx’s dividend payout ratio is currently 32.04%.

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.