Seven Eight Capital LP Has $4.53 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Seven Eight Capital LP boosted its stake in shares of FedEx Co. (NYSE:FDX) by 1,884.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,101 shares of the shipping service provider’s stock after acquiring an additional 14,340 shares during the quarter. FedEx makes up approximately 0.5% of Seven Eight Capital LP’s holdings, making the stock its 29th biggest holding. Seven Eight Capital LP’s holdings in FedEx were worth $4,528,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FDX. SeaCrest Wealth Management LLC increased its position in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC boosted its holdings in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after acquiring an additional 37 shares during the period. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction 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 owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Robert W. Baird reiterated an “outperform” rating and issued a $340.00 price target on shares of FedEx in a research note on Friday, September 13th. Raymond James cut their price target 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, Morgan Stanley boosted their price target on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.58.

FedEx Stock Performance

NYSE FDX opened at $297.36 on Wednesday. The company has a market capitalization of $73.17 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.03 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a fifty day simple moving average of $293.20 and a 200 day simple moving average of $274.45. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating 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 return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $4.94 earnings per share. Sell-side analysts expect that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.86%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.