St. Johns Investment Management Company LLC reduced its stake in FedEx Co. (NYSE:FDX) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,820 shares of the shipping service provider’s stock after selling 146 shares during the period. St. Johns Investment Management Company LLC’s holdings in FedEx were worth $627,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sageworth Trust Co purchased a new stake in shares of FedEx during the second quarter valued at $25,000. Cordasco Financial Network boosted its position in shares of FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock valued at $28,000 after buying an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC purchased a new stake in shares of FedEx during the first quarter valued at $29,000. Evolution Wealth Advisors LLC purchased a new stake in shares of FedEx during the first quarter valued at $31,000. Finally, Endurance Wealth Management Inc. boosted its position in shares of FedEx by 375.0% during the first quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FDX traded up $0.42 during trading on Friday, hitting $163.73. The company had a trading volume of 1,959,080 shares, compared to its average volume of 1,958,649. The company has a 50 day simple moving average of $166.02. The company has a quick ratio of 1.39, a current ratio of 1.45 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. The company has a market capitalization of $42.70 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.92 and a beta of 1.65.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Monday, June 24th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, June 21st. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
In other news, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction dated 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 directly owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.
Several research firms recently commented on FDX. Goldman Sachs Group began coverage on FedEx in a research report on Wednesday, July 10th. They set a “buy” rating and a $200.00 price objective on the stock. TheStreet cut FedEx from a “b-” rating to a “c+” rating in a research report on Thursday, June 6th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating and set a $166.00 price objective on the stock. in a research report on Wednesday, May 29th. Loop Capital dropped their target price on FedEx from $262.00 to $220.00 in a research report on Wednesday, June 26th. Finally, KeyCorp dropped their target price on FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $191.63.
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.
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