North Star Asset Management Inc. Lowers Stock Position in FedEx Co. (NYSE:FDX)

North Star Asset Management Inc. reduced its position in FedEx Co. (NYSE:FDX) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,473 shares of the shipping service provider’s stock after selling 1,592 shares during the period. North Star Asset Management Inc.’s holdings in FedEx were worth $19,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $25,000. Fortis Group Advisors LLC increased its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of FedEx during the 4th quarter worth $28,000. Sachetta LLC bought a new position in FedEx in the 4th quarter worth $32,000. Finally, Central Valley Advisors LLC purchased a new position in FedEx during the second quarter valued at $39,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction 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 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 32,944 shares of company stock worth $9,882,355 over the last three months. Company insiders own 8.73% of the company’s stock.

FedEx Trading Down 0.7 %

Shares of NYSE FDX opened at $283.37 on Friday. The firm has a market cap of $69.73 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. 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 twelve month low of $224.69 and a twelve month high of $313.84. The business has a fifty day simple moving average of $294.25 and a two-hundred day simple moving average of $271.87.

FedEx (NYSE:FDX) last announced its quarterly 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 business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the business posted $4.94 EPS. The business’s revenue was up .8% compared to the same quarter last year. Analysts expect that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s payout ratio is 32.04%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FDX. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Wells Fargo & Company lifted their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Raymond James reduced their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $313.96.

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.