McGuire Investment Group LLC Has $5.19 Million Stock Holdings in FedEx Co. (NYSE:FDX)

McGuire Investment Group LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,634 shares of the shipping service provider’s stock after selling 316 shares during the period. FedEx makes up about 1.6% of McGuire Investment Group LLC’s portfolio, making the stock its 22nd largest position. McGuire Investment Group LLC’s holdings in FedEx were worth $5,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Artisan Partners Limited Partnership raised its holdings in FedEx by 40.7% during the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after buying an additional 792,575 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of FedEx by 63.5% in the 1st quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock worth $280,985,000 after acquiring an additional 601,465 shares in the last quarter. LSV Asset Management grew its stake in shares of FedEx by 39.7% in the 1st quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock worth $360,441,000 after acquiring an additional 564,452 shares in the last quarter. Packer & Co Ltd grew its stake in shares of FedEx by 269.9% in the 2nd quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock worth $29,289,000 after acquiring an additional 481,416 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of FedEx by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after acquiring an additional 418,451 shares in the last quarter. Hedge funds and other institutional investors own 68.88% of the company’s stock.

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

FDX has been the subject of several recent analyst reports. ValuEngine lowered shares of FedEx from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Loop Capital reduced their target price on shares of FedEx from $262.00 to $220.00 in a research note on Wednesday, June 26th. Credit Suisse Group reduced their target price on shares of FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $184.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Bank of America reduced their price target on shares of FedEx from $188.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. FedEx presently has an average rating of “Buy” and an average target price of $191.63.

Shares of NYSE:FDX opened at $157.26 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39. The company has a market capitalization of $42.70 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.88 and a beta of 1.65. FedEx Co. has a twelve month low of $150.68 and a twelve month high of $259.25. The stock’s 50-day simple moving average is $165.85.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, topping analysts’ consensus estimates of $4.93 by $0.08. The firm had revenue of $17.81 billion during the quarter, compared to analyst estimates of $17.85 billion. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $5.91 earnings per share. Sell-side analysts expect that FedEx Co. will post 14.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Monday, June 24th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.65%. FedEx’s dividend payout ratio is presently 16.75%.

FedEx Company 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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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