Summit Securities Group LLC Sells 1,095 Shares of FedEx Corporation $FDX

Summit Securities Group LLC lowered its position in FedEx Corporation (NYSE:FDX) by 91.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105 shares of the shipping service provider’s stock after selling 1,095 shares during the period. Summit Securities Group LLC’s holdings in FedEx were worth $26,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Transce3nd LLC bought a new position in FedEx during the 4th quarter worth about $26,000. Accredited Wealth Management LLC bought a new position in FedEx during the 4th quarter worth about $35,000. Abound Financial LLC bought a new position in FedEx during the 1st quarter worth about $38,000. Optiver Holding B.V. bought a new position in FedEx during the 4th quarter worth about $39,000. Finally, Ameriflex Group Inc. bought a new position in FedEx during the 4th quarter worth about $43,000. Institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 3,610 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares of the company’s stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock worth $2,228,816 over the last three months. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and set a $275.00 target price on shares of FedEx in a report on Wednesday, June 25th. Wall Street Zen cut FedEx from a “buy” rating to a “hold” rating in a report on Saturday. Bank of America reduced their price objective on shares of FedEx from $270.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. BMO Capital Markets reduced their price objective on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research note on Monday, May 19th. Finally, Raymond James Financial restated an “outperform” rating and set a $260.00 price objective (down from $275.00) on shares of FedEx in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $283.13.

FedEx Trading Up 0.2%

Shares of FDX stock opened at $227.72 on Tuesday. The firm has a 50 day moving average price of $229.52 and a two-hundred day moving average price of $231.27. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $53.72 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period last year, the business posted $5.41 earnings per share. As a group, analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.5%. FedEx’s dividend payout ratio (DPR) is 34.36%.

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.