Octavia Wealth Advisors LLC Decreases Stock Position in FedEx Co. (NYSE:FDX)

12 Oct 2024, 20:50 by Tristan Rich · The Markets Daily

Octavia Wealth Advisors LLC reduced its position in FedEx Co. (NYSE:FDX – Free Report) by 10.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,704 shares of the shipping service provider’s stock after selling 326 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in FedEx were worth $744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after acquiring an additional 34 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised its position in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC raised its position in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $264.36 on Friday. The company has a market cap of $64.59 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $281.08 and a two-hundred day moving average of $275.58.

FedEx (NYSE:FDX – Get Free Report) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 earnings per share. As a group, analysts predict that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.09%. FedEx’s payout ratio is currently 34.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on FDX. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Friday, September 20th. Argus increased their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus reduced their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

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