Founders Financial Securities LLC sells 120 shares of FedEx Co. (NYSE:FDX)

VaselineSeptember 5, 2024

0 4 minutes read

Founders Financial Securities LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX – Free Report) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,359 shares of the transportation services provider’s stock after selling 120 shares during the quarter. Founders Financial Securities LLC’s holdings in FedEx were worth $707,000 as of its most recent SEC filing.

A number of other institutional investors have recently modified their holdings of FDX. Fortis Group Advisors LLC lifted its position in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the transportation services provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC bought a new stake in shares of FedEx in the 4th quarter worth $25,000. Private Wealth Management Group LLC bought a new stake in shares of FedEx in the 4th quarter valued at $28,000. Sachetta LLC bought a new stake in shares of FedEx in the 4th quarter worth $32,000. Finally, Northwest Financial Advisors bought a new stake in shares of FedEx in the 4th quarter valued at $33,000. 84.47% of shares are currently owned by institutional investors.

Changes in Analyst Ratings

Several brokerages have recently weighed in on FDX. Argus boosted their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Bank of America upped their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Raymond James decreased their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Finally, Evercore ISI decreased their price target on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of “Moderate Buy” and a consensus price target of $313.96, according to MarketBeat.

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FedEx trading down 0.3%

Shares of FedEx stock opened at $292.70 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32, and a current ratio of 1.36. FedEx Co. it has a 52-week low of $224.69 and a 52-week high of $313.84. The stock has a 50-day moving average of $294.78 and a two-hundred-day moving average of $271.45. The stock has a market cap of $71.51 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, June 25th. The shipping services provider reported $5.41 EPS for the quarter, topping 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 firm had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. In the same quarter last year, the company posted earnings of $4.94 per share. The company’s revenue for the quarter was up 0.8% compared to the same quarter last year. As a group, equities analysts anticipate 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. Stockholders of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9. This represents a dividend of $5.52 on an annualized basis and a yield of 1.89%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Buying and selling inside FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, EVP Brie Carere sold 1,958 shares of FedEx 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 sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s shares.

About FedEx

(Free report)

FedEx Corporation provides shipping, e-commerce and business services in the United States and internationally. It operates through the FedEx Express, FedEx Ground, FedEx Freight and FedEx Services segments. The FedEx Express segment provides expedited shipping, small package ground delivery and freight services; and time-critical transport services.