FedEx Co. (NYSE:FDX) Position Lowered by Sei Investments Co.

Sei Investments Co. reduced its position in FedEx Co. (NYSE:FDX) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,243 shares of the shipping service provider’s stock after selling 1,718 shares during the quarter. Sei Investments Co. owned approximately 0.08% of FedEx worth $56,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. Vanguard Group Inc. raised its position in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Capital International Investors raised its holdings in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Putnam Investments LLC boosted its holdings in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. Mawer Investment Management Ltd. grew its position in shares of FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in FedEx by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after acquiring an additional 121,240 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent research reports. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Argus upped their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Stephens reiterated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a research report on Friday. Finally, TD Cowen cut their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $315.95.

FedEx Trading Down 15.2 %

FedEx stock opened at $254.64 on Monday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The firm’s 50 day moving average price is $292.43 and its two-hundred day moving average price is $275.22. The firm has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the firm earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, 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 ninety days. Corporate insiders own 8.73% of the company’s stock.

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.