FedEx Co. (NYSE:FDX) Shares Purchased by Interval Partners LP

Interval Partners LP grew its holdings in shares of FedEx Co. (NYSE:FDX) by 408.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 191,088 shares of the shipping service provider’s stock after purchasing an additional 153,497 shares during the period. FedEx accounts for 1.2% of Interval Partners LP’s portfolio, making the stock its 13th biggest position. Interval Partners LP owned approximately 0.08% of FedEx worth $57,296,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Capital International Investors raised its position in shares of FedEx by 32.5% during the 1st 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 lifted 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 worth $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in 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 purchasing an additional 684,679 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. 8.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FDX shares. Wells Fargo & Company raised their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday. BMO Capital Markets cut their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $314.74.

FedEx Price Performance

NYSE FDX opened at $254.64 on Monday. The stock has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a P/E/G 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. The business’s fifty day moving average is $292.43 and its two-hundred day moving average is $275.22. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84.

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 forecast that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.