Pacer Advisors Inc. increased its stake in shares of FedEx Co. (NYSE:FDX) by 1,164.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,230 shares of the shipping service provider’s stock after acquiring an additional 18,630 shares during the quarter. Pacer Advisors Inc.’s holdings in FedEx were worth $2,837,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Parnassus Investments CA raised its stake in FedEx by 47.0% during the first quarter. Parnassus Investments CA now owns 6,136,330 shares of the shipping service provider’s stock valued at $744,091,000 after purchasing an additional 1,960,883 shares in the last quarter. Invesco Ltd. raised its stake in FedEx by 212.2% during the first quarter. Invesco Ltd. now owns 2,116,047 shares of the shipping service provider’s stock valued at $256,592,000 after purchasing an additional 1,438,225 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in FedEx during the first quarter valued at $10,618,000. BlackRock Inc. raised its stake in FedEx by 3.9% during the first quarter. BlackRock Inc. now owns 17,395,107 shares of the shipping service provider’s stock valued at $2,109,329,000 after purchasing an additional 645,024 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in FedEx by 73.7% during the first quarter. Wellington Management Group LLP now owns 1,112,398 shares of the shipping service provider’s stock valued at $134,890,000 after purchasing an additional 472,092 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.
In other news, CEO Frederick W. Smith sold 155,750 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $117.71, for a total transaction of $18,333,332.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marvin R. Ellison acquired 2,200 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average cost of $164.53 per share, with a total value of $361,966.00. Following the completion of the transaction, the director now owns 4,401 shares of the company’s stock, valued at approximately $724,096.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 196,550 shares of company stock worth $24,818,258. 8.44% of the stock is owned by insiders.
A number of research firms recently issued reports on FDX. Goldman Sachs Group upped their price target on shares of FedEx from $153.00 to $169.00 and gave the company a “conviction-buy” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein increased their target price on shares of FedEx from $147.00 to $176.00 and gave the company a “market perform” rating in a research note on Wednesday, July 1st. Argus raised shares of FedEx from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Monday, July 6th. Daiwa Capital Markets increased their target price on shares of FedEx from $104.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Citigroup increased their target price on shares of FedEx from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $161.08.
FDX opened at $168.40 on Friday. FedEx Co. has a 12-month low of $88.69 and a 12-month high of $176.25. The company has a current ratio of 1.58, a quick ratio of 1.53 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $44.11 billion, a PE ratio of 34.44, a P/E/G ratio of 1.40 and a beta of 1.32. The firm has a 50 day moving average of $151.03 and a two-hundred day moving average of $136.84.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $1.11. FedEx had a net margin of 1.86% and a return on equity of 13.49%. The company had revenue of $17.36 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same period last year, the firm posted $5.01 EPS. FedEx’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 10.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Monday, June 29th were issued a $0.65 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.60 annualized dividend and a yield of 1.54%. FedEx’s dividend payout ratio (DPR) is currently 27.37%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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