AlphaStar Capital Management LLC Sells 171 Shares of FedEx Co. (NYSE:FDX)

AlphaStar Capital Management LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,018 shares of the shipping service provider’s stock after selling 171 shares during the period. AlphaStar Capital Management LLC’s holdings in FedEx were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC raised its stake in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares during the period. Richard P Slaughter Associates Inc lifted its holdings in FedEx by 0.4% during the second quarter. Richard P Slaughter Associates Inc now owns 8,573 shares of the shipping service provider’s stock worth $2,570,000 after acquiring an additional 38 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in FedEx by 4.1% in the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock valued at $285,000 after acquiring an additional 39 shares during the period. Finally, Coastline Trust Co increased its holdings in shares of FedEx by 1.0% in the second quarter. Coastline Trust Co now owns 4,229 shares of the shipping service provider’s stock worth $1,268,000 after acquiring an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group raised 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. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Finally, Robert W. Baird lifted their price target on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $313.96.

FedEx Trading Down 1.1 %

FDX traded down $3.29 during midday trading on Tuesday, hitting $293.95. 191,088 shares of the company were exchanged, compared to its average volume of 1,818,372. The firm has a market capitalization of $72.34 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.08 and a beta of 1.18. The firm’s 50 day moving average price is $289.60 and its 200-day moving average price is $268.88. 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 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly 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. The firm had revenue of $22.11 billion for 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%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.94 EPS. As a group, equities analysts forecast that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.88%. FedEx’s payout ratio is 32.04%.

Insider Buying and Selling

In other 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 transaction of $2,611,688.94. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last 90 days. Company insiders own 8.73% of the company’s stock.

FedEx Company 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.