FedEx Co. (NYSE:FDX) Shares Sold by Sentry LLC

Sentry LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 1,211,713 shares of the shipping service provider’s stock after selling 7,692 shares during the quarter. FedEx makes up about 63.9% of Sentry LLC’s investment portfolio, making the stock its largest position. Sentry LLC’s holdings in FedEx were worth $331,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in shares of FedEx in the fourth quarter worth about $25,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Sachetta LLC boosted its position in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Finally, OFI Invest Asset Management grew its holdings in FedEx by 91.8% in the first quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock valued at $50,000 after purchasing an additional 89 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Citigroup began coverage on shares of FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price target on the stock. The Goldman Sachs Group cut their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

Insider Buying and Selling

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred 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 owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $265.92 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a market cap of $65.44 billion, a P/E ratio of 15.43, a PEG ratio of 1.06 and a beta of 1.17. The firm’s 50 day moving average price is $280.37 and its 200 day moving average price is $275.07.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, research analysts forecast that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

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.