Howard Capital Management Acquires 339 Shares of FedEx Co. (NYSE:FDX)

Howard Capital Management grew its holdings in shares of FedEx Co. (NYSE:FDX) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,396 shares of the shipping service provider’s stock after buying an additional 339 shares during the period. Howard Capital Management’s holdings in FedEx were worth $12,215,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC raised its position in shares of FedEx by 7.2% in the 1st quarter. Lindbrook Capital LLC now owns 808 shares of the shipping service provider’s stock worth $146,000 after purchasing an additional 54 shares during the last quarter. Nachman Norwood & Parrott Inc raised its position in FedEx by 1.0% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 5,385 shares of the shipping service provider’s stock worth $980,000 after buying an additional 55 shares during the last quarter. Associated Banc Corp raised its position in FedEx by 3.7% in the 1st quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock worth $298,000 after buying an additional 59 shares during the last quarter. Traynor Capital Management Inc. raised its position in FedEx by 1.2% in the 1st quarter. Traynor Capital Management Inc. now owns 5,317 shares of the shipping service provider’s stock worth $964,000 after buying an additional 61 shares during the last quarter. Finally, McIlrath & Eck LLC raised its position in FedEx by 27.5% in the 1st quarter. McIlrath & Eck LLC now owns 283 shares of the shipping service provider’s stock worth $51,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now directly owns 16,440 shares in the company, valued at approximately $2,661,307.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the transaction, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Shares of NYSE:FDX opened at $163.73 on Friday. The company’s 50 day moving average is $166.02. The company has a market cap of $42.70 billion, a P/E ratio of 10.55, a PEG ratio of 0.92 and a beta of 1.65. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. FedEx Co. has a 12-month low of $150.68 and a 12-month high of $259.25.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.91 EPS. On average, research analysts predict that FedEx Co. will post 14.61 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Monday, June 24th were paid a dividend of $0.65 per share. The ex-dividend date was Friday, June 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.59%. FedEx’s dividend payout ratio (DPR) is presently 16.75%.

A number of equities analysts have weighed in on FDX shares. Barclays reissued a “buy” rating and issued a $185.00 target price on shares of FedEx in a research report on Thursday, June 13th. Loop Capital decreased their target price on FedEx from $262.00 to $220.00 in a research report on Wednesday, June 26th. Cowen reissued an “outperform” rating and issued a $228.00 target price (down previously from $230.00) on shares of FedEx in a research report on Thursday, June 20th. Berenberg Bank set a $175.00 target price on FedEx and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, Sanford C. Bernstein set a $205.00 target price on FedEx and gave the stock a “buy” rating in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $191.63.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

Recommended Story: Why are percentage gainers important?

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings 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.