Angeles Wealth Management Llc invested $323,000 in FedEx Co. (NYSE:FDX)

Angeles Wealth Management LLC acquired a new position in shares of FedEx Co. (NYSE:FDX – Free Report) during the second quarter, HoldingsChannel reports. The firm acquired 1,078 shares of the shipping services provider’s stock, valued at approximately $323,000.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the transportation provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors raised its stake in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the transportation services provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the transportation services provider’s stock worth $732,040,000 after buying an additional 798,084 shares in the last quarter. Norges Bank bought a new position in FedEx in the fourth quarter valued at $700,291,000. Finally, Mawer Investment Management Ltd. raised its stake in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the transportation services provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s shares.

The Wall Street analyst weighs in

A number of brokerages have recently weighed in on FDX. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. UBS Group cut their price target on shares of FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. TD Cowen assumed coverage on shares of FedEx in a research note on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target for the company. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $313.96.

See the latest stock report on FedEx

FedEx trading up 0.4%

Shares of FDX stock opened at $284.86 on Thursday. FedEx Co. it has a 52-week low of $224.69 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32, and a current ratio of 1.36. The company has a 50 day simple moving average of $293.47 and a two hundred day simple moving average of $272.95. The company has a market cap of $70.10 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX – Get Your Free Report ) last posted its earnings results on Tuesday, June 25th. The shipping services provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s quarterly revenue was up 0.8% year over year. In the same period last year, the company earned $4.94 per share. Research analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced 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. This represents a dividend of $5.52 on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, September 9. FedEx’s payout ratio is 32.04%.

Buying and selling inside FedEx

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

FedEx profile

(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.

Featured stories

Want to see what other hedge funds own FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for FedEx Co. (NYSE:FDX – Free Report).

Get news and reviews for FedEx Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for FedEx and related companies with MarketBeat.com’s FREE daily email newsletter.