Sage Mountain Advisors LLC Raises Holdings in FedEx Co. (NYSE:FDX)

Sage Mountain Advisors LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 932 shares of the shipping service provider’s stock after buying an additional 86 shares during the quarter. Sage Mountain Advisors LLC’s holdings in FedEx were worth $279,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FDX. Fortis Group Advisors LLC grew its holdings in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new position in FedEx in the fourth quarter worth $25,000. Private Wealth Management Group LLC purchased a new position in FedEx in the fourth quarter worth $28,000. Sachetta LLC purchased a new position in FedEx in the fourth quarter worth $32,000. Finally, Northwest Financial Advisors purchased a new position in FedEx in the fourth quarter worth $33,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock traded up $2.52 during trading hours on Friday, reaching $298.77. The stock had a trading volume of 1,096,965 shares, compared to its average volume of 1,195,617. The stock’s 50 day moving average is $293.27 and its 200 day moving average is $270.24. The firm has a market capitalization of $72.99 billion, a PE ratio of 17.34, a PEG ratio of 1.08 and a beta of 1.18. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion during 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 was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.94 earnings per share. Equities analysts expect that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. 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 1.85%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Analyst Ratings Changes

FDX has been the topic of several analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. TD Cowen began coverage on shares of FedEx in a report on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective on the stock. Bank of America boosted their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. UBS Group dropped their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Robert W. Baird boosted their price objective on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.