FedEx Co. (NYSE:FDX) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its stake in FedEx Co. (NYSE:FDX) by 5.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 146,243 shares of the shipping service provider’s stock after selling 8,992 shares during the period. Toronto Dominion Bank’s holdings in FedEx were worth $42,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of FDX. Fortis Group Advisors LLC raised its holdings in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in FedEx in the 4th quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in FedEx in the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in FedEx in the 4th quarter worth about $30,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in FedEx during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. The Goldman Sachs Group boosted their price objective on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Robert W. Baird boosted their price objective on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Finally, Evercore ISI cut their price objective on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Activity

In related news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Up 0.4 %

Shares of NYSE FDX traded up $1.33 during mid-day trading on Friday, hitting $299.92. The company had a trading volume of 1,200,856 shares, compared to its average volume of 1,914,961. The company has a market capitalization of $73.27 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The business’s 50-day simple moving average is $273.07 and its 200 day simple moving average is $262.33.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a return on equity of 16.70% 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 last year, the firm earned $4.94 earnings per share. On average, analysts predict that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were paid a $1.38 dividend. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx 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.