Abound Wealth Management Has $45,000 Stake in FedEx Co. (NYSE:FDX)

Abound Wealth Management increased its stake in FedEx Co. (NYSE:FDX) by 175.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149 shares of the shipping service provider’s stock after purchasing an additional 95 shares during the period. Abound Wealth Management’s holdings in FedEx were worth $45,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fortis Group Advisors LLC grew its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC bought a new position in FedEx in the fourth quarter valued at approximately $25,000. Sachetta LLC acquired a new stake in FedEx during the 4th quarter worth $32,000. Central Valley Advisors LLC bought a new stake in shares of FedEx during the 2nd quarter valued at $39,000. Finally, Security National Bank acquired a new position in shares of FedEx in the 4th quarter valued at $44,000. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Robert B. Carter sold 16,010 shares of the business’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 transaction of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last 90 days. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on FDX shares. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Evercore ISI lowered their target price on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday. Stephens reissued an “overweight” rating and set a $325.00 price target on shares of FedEx in a research report on Wednesday, June 26th. UBS Group dropped 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. Finally, Raymond James decreased their target price on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.67.

FedEx Trading Up 0.1 %

Shares of FedEx stock opened at $286.38 on Monday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $293.17 and its 200-day moving average is $273.79. The stock has a market cap of $70.47 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the firm posted $4.94 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 20.82 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. Investors of record on Monday, September 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is currently 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.