FedEx Co. (NYSE:FDX) Shares Sold by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV trimmed its position in FedEx Co. (NYSE:FDX) by 15.2% during the first quarter, Holdings Channel.com reports. The firm owned 144,326 shares of the shipping service provider’s stock after selling 25,874 shares during the period. FedEx accounts for approximately 3.0% of Pensioenfonds Rail & OV’s holdings, making the stock its 7th largest position. Pensioenfonds Rail & OV’s holdings in FedEx were worth $41,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after acquiring an additional 59,161 shares in the last quarter. Sentry LLC purchased a new position in FedEx during the 4th quarter worth $1,811,748,000. Capital International Investors increased its stake in FedEx by 15.2% in the fourth quarter. Capital International Investors now owns 6,667,462 shares of the shipping service provider’s stock valued at $1,686,738,000 after purchasing an additional 880,894 shares during the period. Morgan Stanley raised its holdings in shares of FedEx by 1.1% in the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after buying an additional 35,085 shares during the last quarter. Finally, Putnam Investments LLC lifted its position in FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In related news, EVP Mark R. Allen sold 10,145 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $287.28, for a total value of $2,914,455.60. Following the completion of the sale, the executive vice president now directly owns 36,853 shares of the company’s stock, valued at $10,587,129.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Mark R. Allen sold 10,145 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $287.28, for a total transaction of $2,914,455.60. Following the sale, the executive vice president now owns 36,853 shares in the company, valued at $10,587,129.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,774 shares of company stock valued at $35,194,126. Insiders own 8.73% of the company’s stock.

FedEx Stock Up 15.5 %

FDX traded up $39.81 during trading hours on Wednesday, reaching $296.19. 11,091,675 shares of the stock traded hands, compared to its average volume of 1,910,597. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $296.86. The company has a market cap of $72.89 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm’s fifty day simple moving average is $256.13 and its two-hundred day simple moving average is $255.72.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.94 earnings per share. As a group, analysts forecast that FedEx Co. will post 20.26 earnings per share for the current fiscal year.

FedEx declared that its board has initiated a share repurchase plan on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is presently 32.04%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FDX shares. BNP Paribas reissued an “underperform” rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. Raymond James lowered their price objective on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday. Robert W. Baird upped their price target on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley upped their target price on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.88.

About FedEx

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.