Ensign Peak Advisors Inc Sells 42,185 Shares of FedEx Co. (NYSE:FDX)

Ensign Peak Advisors Inc decreased its position in shares of FedEx Co. (NYSE:FDX) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,243 shares of the shipping service provider’s stock after selling 42,185 shares during the quarter. Ensign Peak Advisors Inc owned about 0.11% of FedEx worth $83,428,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Summit Trail Advisors LLC grew its position in shares of FedEx by 99.6% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,594 shares of the shipping service provider’s stock valued at $1,384,000 after purchasing an additional 2,292 shares during the period. AE Wealth Management LLC lifted its stake in FedEx by 49.0% in the second quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after buying an additional 948 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in FedEx by 17.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 18,489 shares of the shipping service provider’s stock valued at $5,544,000 after buying an additional 2,784 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of FedEx by 4.9% in the second quarter. Ieq Capital LLC now owns 13,838 shares of the shipping service provider’s stock valued at $4,149,000 after buying an additional 647 shares during the period. Finally, Brighton Jones LLC increased its position in shares of FedEx by 4.7% during the second quarter. Brighton Jones LLC now owns 1,685 shares of the shipping service provider’s stock worth $505,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday. TD Cowen decreased their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. BMO Capital Markets reduced their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday. Finally, StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.38.

FedEx Trading Down 15.2 %

Shares of FDX stock opened at $254.64 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The firm has a 50 day moving average price of $292.43 and a two-hundred day moving average price of $275.04. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. As a group, analysts predict that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 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.