IFM Investors Pty Ltd Boosts Stake in FedEx Co. (NYSE:FDX)

IFM Investors Pty Ltd lifted its holdings in FedEx Co. (NYSE:FDXGet Rating) by 10.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,770 shares of the shipping service provider’s stock after buying an additional 4,171 shares during the quarter. IFM Investors Pty Ltd’s holdings in FedEx were worth $9,923,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Holloway Wealth Management LLC purchased a new stake in FedEx during the first quarter worth $29,000. American National Bank boosted its position in FedEx by 206.7% during the second quarter. American National Bank now owns 138 shares of the shipping service provider’s stock worth $31,000 after purchasing an additional 93 shares in the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new stake in FedEx during the first quarter worth $35,000. Byrne Asset Management LLC purchased a new stake in FedEx during the fourth quarter worth $36,000. Finally, Rockbridge Investment Management LCC boosted its position in FedEx by 344.1% during the fourth quarter. Rockbridge Investment Management LCC now owns 151 shares of the shipping service provider’s stock worth $39,000 after purchasing an additional 117 shares in the last quarter. 71.62% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 0.8 %

Shares of FDX opened at $154.54 on Friday. The company has a market capitalization of $40.17 billion, a P/E ratio of 10.81, a P/E/G ratio of 0.73 and a beta of 1.21. FedEx Co. has a one year low of $150.34 and a one year high of $266.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The stock has a 50-day moving average price of $216.15 and a 200 day moving average price of $216.44.

FedEx (NYSE:FDXGet Rating) last issued its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The business had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.37 EPS. Sell-side analysts forecast that FedEx Co. will post 16.55 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 1st. FedEx’s dividend payout ratio is currently 32.17%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. Bank Of America (Bofa) cut FedEx from a “buy” rating to a “neutral” rating and cut their price target for the stock from $275.00 to $186.00 in a report on Friday, September 16th. Citigroup cut their price target on FedEx from $180.00 to $165.00 in a report on Friday. Credit Suisse Group cut their price target on FedEx from $246.00 to $236.00 in a report on Friday. Wells Fargo & Company cut their price target on FedEx from $269.00 to $199.00 and set an “overweight” rating for the company in a report on Friday, September 16th. Finally, Evercore ISI cut their price target on FedEx from $318.00 to $243.00 and set an “outperform” rating for the company in a report on Friday, September 16th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.96.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane acquired 607 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were purchased at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the purchase, the director now directly owns 686 shares of the company’s stock, valued at approximately $156,490.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Vincenzo J. Vena acquired 900 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were purchased at an average price of $230.04 per share, for a total transaction of $207,036.00. Following the completion of the purchase, the director now directly owns 1,325 shares of the company’s stock, valued at approximately $304,803. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane purchased 607 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were bought at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the transaction, the director now directly owns 686 shares in the company, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Insiders have sold 48,810 shares of company stock worth $11,199,898 over the last quarter. 8.62% of the stock is owned by corporate insiders.

FedEx Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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