Mendel Money Management Reduces Position in FedEx Co. (NYSE:FDX)

Mendel Money Management lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,261 shares of the shipping service provider’s stock after selling 392 shares during the period. FedEx comprises approximately 2.9% of Mendel Money Management’s investment portfolio, making the stock its 17th biggest position. Mendel Money Management’s holdings in FedEx were worth $4,553,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FDX. OLD Mission Capital LLC purchased a new position in shares of FedEx during the third quarter valued at approximately $219,000. Maverick Capital Ltd. purchased a new stake in shares of FedEx in the first quarter valued at approximately $1,911,000. Avidian Wealth Solutions LLC purchased a new stake in shares of FedEx in the first quarter valued at approximately $203,000. Avantax Planning Partners Inc. boosted its holdings in shares of FedEx by 13.0% in the first quarter. Avantax Planning Partners Inc. now owns 1,104 shares of the shipping service provider’s stock valued at $313,000 after purchasing an additional 127 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in shares of FedEx by 0.5% in the first quarter. Standard Life Aberdeen plc now owns 191,992 shares of the shipping service provider’s stock valued at $54,548,000 after purchasing an additional 907 shares during the period. Institutional investors and hedge funds own 72.64% of the company’s stock.

Shares of FDX traded down $2.92 on Friday, hitting $255.46. 83,594 shares of the stock traded hands, compared to its average volume of 2,268,912. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $68.00 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.01 and a beta of 1.22. The stock’s 50 day moving average is $276.45 and its two-hundred day moving average is $285.04. FedEx Co. has a 1 year low of $230.27 and a 1 year high of $319.90.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Wednesday, June 23rd. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.99 by $0.02. The business had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $21.54 billion. FedEx had a net margin of 6.23% and a return on equity of 22.55%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Research analysts forecast that FedEx Co. will post 21.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, September 2nd. FedEx’s payout ratio is 16.51%.

In related news, CEO John Alan Smith sold 11,285 shares of the company’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $296.00, for a total transaction of $3,340,360.00. Following the completion of the transaction, the chief executive officer now owns 16,386 shares of the company’s stock, valued at $4,850,256. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,235 shares of the company’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the transaction, the executive vice president now directly owns 68,680 shares of the company’s stock, valued at approximately $20,580,648.80. The disclosure for this sale can be found here. Insiders have sold 32,240 shares of company stock worth $9,608,596 in the last three months. Insiders own 8.16% of the company’s stock.

FDX has been the topic of several research reports. Bank of America reissued a “buy” rating and issued a $372.00 target price on shares of FedEx in a research report on Tuesday, June 29th. Stifel Nicolaus began coverage on FedEx in a research report on Monday, June 21st. They issued a “buy” rating and a $344.00 target price on the stock. UBS Group lowered their target price on shares of FedEx from $397.00 to $380.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company increased their target price on shares of FedEx from $336.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, May 20th. Finally, KeyCorp lowered their target price on shares of FedEx from $370.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $347.29.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

Further Reading: Institutional Investors

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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