Econ Financial Services Corp Takes $923,000 Position in FedEx Co. (NYSE:FDX)

Econ Financial Services Corp acquired a new position in shares of FedEx Co. (NYSE:FDX) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,185 shares of the shipping service provider’s stock, valued at approximately $923,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in FedEx by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 15,982 shares of the shipping service provider’s stock worth $4,043,000 after buying an additional 316 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of FedEx during the 4th quarter worth about $32,000. Good Life Advisors LLC lifted its stake in FedEx by 7.5% during the fourth quarter. Good Life Advisors LLC now owns 861 shares of the shipping service provider’s stock worth $218,000 after purchasing an additional 60 shares during the last quarter. Trueblood Wealth Management LLC acquired a new position in FedEx in the fourth quarter valued at approximately $221,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in FedEx during the fourth quarter worth approximately $142,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FDX shares. Bank of America increased their target price on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Stephens reiterated an “overweight” rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. UBS Group dropped their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Raymond James reduced their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Finally, 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 report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.00.

Insider Activity at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

NYSE FDX traded down $0.91 during trading hours on Monday, reaching $299.23. The company’s stock had a trading volume of 849,334 shares, compared to its average volume of 1,907,669. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a market cap of $73.10 billion, a PE ratio of 17.37, a PEG ratio of 1.08 and a beta of 1.18. 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’s 50-day moving average is $273.96 and its two-hundred day moving average is $262.86.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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 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 the consensus estimate of $22.04 billion. During the same period in the previous year, the firm posted $4.94 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s payout ratio is 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.