Meiji Yasuda Life Insurance Co Sells 430 Shares of FedEx Co. (NYSE:FDX)

Meiji Yasuda Life Insurance Co trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,409 shares of the shipping service provider’s stock after selling 430 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in FedEx were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FDX. SeaCrest Wealth Management LLC increased its stake in FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC boosted its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC grew its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its holdings 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 in the last quarter. Finally, Sachetta LLC boosted its stake 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.

FedEx Price Performance

FDX opened at $298.17 on Thursday. The business has a fifty day moving average of $293.30 and a 200 day moving average of $274.62. The stock has a market cap of $73.37 billion, a P/E ratio of 17.31, a PEG ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the business posted $4.94 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.85%. FedEx’s payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FDX shares. Wells Fargo & Company lifted their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bank of America cut their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen began coverage on FedEx in a research report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and raised their price target for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.58.

Insider Buying and Selling

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last quarter. 8.73% of the stock is owned by corporate insiders.

FedEx Company 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.