Procyon Advisors LLC Has $4.49 Million Holdings in FedEx Co. (NYSE:FDX)

Procyon Advisors LLC lowered its position in FedEx Co. (NYSE:FDX) by 0.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 16,414 shares of the shipping service provider’s stock after selling 77 shares during the period. Procyon Advisors LLC’s holdings in FedEx were worth $4,489,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FedEx during the 4th quarter worth approximately $25,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter worth approximately $39,000. Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC boosted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a report on Friday, September 20th. Citigroup began coverage on shares of FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price on the stock. Finally, Bank of America cut their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the business’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 directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on 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 directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.73% of the company’s stock.

FedEx Stock Up 0.2 %

NYSE:FDX opened at $264.81 on Monday. The stock has a fifty day simple moving average of $281.08 and a 200-day simple moving average of $275.39. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $65.16 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the firm posted $4.55 EPS. The business’s revenue was down .5% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.08%. FedEx’s dividend payout ratio is currently 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.