IHT Wealth Management LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

IHT Wealth Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 20.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,738 shares of the shipping service provider’s stock after selling 712 shares during the period. IHT Wealth Management LLC’s holdings in FedEx were worth $778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bartlett & Co. LLC increased its position in FedEx by 1.0% during the 1st quarter. Bartlett & Co. LLC now owns 168,748 shares of the shipping service provider’s stock valued at $47,931,000 after buying an additional 1,716 shares in the last quarter. The PNC Financial Services Group Inc. increased its position in FedEx by 6.6% during the 1st quarter. The PNC Financial Services Group Inc. now owns 82,104 shares of the shipping service provider’s stock valued at $23,320,000 after buying an additional 5,098 shares in the last quarter. Thrivent Financial for Lutherans increased its position in FedEx by 6.9% during the 1st quarter. Thrivent Financial for Lutherans now owns 13,913 shares of the shipping service provider’s stock valued at $3,952,000 after buying an additional 903 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in FedEx by 2.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 102,600 shares of the shipping service provider’s stock valued at $29,255,000 after buying an additional 2,600 shares in the last quarter. Finally, Bray Capital Advisors increased its position in FedEx by 6.3% during the 1st quarter. Bray Capital Advisors now owns 6,142 shares of the shipping service provider’s stock valued at $1,745,000 after buying an additional 362 shares in the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

Shares of FDX stock opened at $298.35 on Thursday. The stock has a 50-day moving average price of $300.66. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.86. FedEx Co. has a 12-month low of $163.44 and a 12-month high of $319.90. The company has a market capitalization of $79.76 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.17 and a beta of 1.24.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Wednesday, June 23rd. The shipping service provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.99 by $0.02. FedEx had a return on equity of 22.55% and a net margin of 6.23%. The company had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $21.54 billion. During the same period in the previous year, the firm posted $2.53 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 21.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 12th. Shareholders of record on Monday, June 28th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, June 25th. This is a positive change from FedEx’s previous quarterly dividend of $0.65. FedEx’s payout ratio is 16.51%.

A number of research analysts recently weighed in on the company. Raymond James raised their price objective on FedEx from $310.00 to $330.00 and gave the company an “outperform” rating in a research report on Friday, June 4th. Credit Suisse Group lifted their target price on FedEx from $364.00 to $373.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Vertical Research initiated coverage on FedEx in a report on Friday, March 26th. They issued a “buy” rating and a $340.00 target price for the company. Bank of America reissued a “buy” rating and issued a $372.00 target price on shares of FedEx in a report on Tuesday, June 29th. Finally, KeyCorp lifted their target price on FedEx from $350.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. FedEx currently has a consensus rating of “Buy” and an average price target of $341.04.

In other FedEx news, CEO Donald F. Colleran sold 17,150 shares of the business’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $300.52, for a total transaction of $5,153,918.00. Following the completion of the transaction, the chief executive officer now owns 56,204 shares in the company, valued at $16,890,426.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Alan Smith sold 11,285 shares of the business’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $296.00, for a total value of $3,340,360.00. Following the transaction, the chief executive officer now owns 16,386 shares of the company’s stock, valued at approximately $4,850,256. The disclosure for this sale can be found here. Insiders have sold 101,013 shares of company stock valued at $30,668,425 in the last 90 days. Company insiders own 8.49% of the company’s stock.

FedEx Profile

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other, and Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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