WESCAP Management Group Inc. Cuts Stock Position in FedEx Co. (NYSE:FDX)

WESCAP Management Group Inc. lowered its holdings in FedEx Co. (NYSE:FDX) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,216 shares of the shipping service provider’s stock after selling 252 shares during the period. WESCAP Management Group Inc.’s holdings in FedEx were worth $1,020,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sageworth Trust Co bought a new stake in shares of FedEx during the 2nd quarter valued at $25,000. Covenant Multifamily Offices LLC purchased a new position in shares of FedEx in the 1st quarter worth about $29,000. Evolution Wealth Advisors LLC purchased a new position in shares of FedEx in the 1st quarter worth about $31,000. Endurance Wealth Management Inc. boosted its holdings in shares of FedEx by 375.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter worth about $34,000. 71.79% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently weighed in on FDX. Stephens set a $210.00 target price on FedEx and gave the company a “buy” rating in a report on Wednesday, June 26th. 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. Citigroup decreased their target price on FedEx from $192.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. TheStreet lowered FedEx from a “b-” rating to a “c+” rating in a research report on Thursday, June 6th. Finally, Raymond James decreased their target price on FedEx from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $191.63.

In other news, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction 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 in the company, valued at $12,031,437.88. The disclosure for this sale can be found here. Company insiders own 8.44% of the company’s stock.

FDX stock traded down $0.39 on Thursday, reaching $157.79. 651,694 shares of the company traded hands, compared to its average volume of 1,971,365. FedEx Co. has a one year low of $150.68 and a one year high of $259.25. 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 cap of $41.25 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.65. The firm has a fifty day simple moving average of $164.25 and a 200-day simple moving average of $173.38.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.65%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.

About FedEx

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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