FedEx Co. (NYSE:FDX) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 60.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,206 shares of the shipping service provider’s stock after selling 61,122 shares during the quarter. Renaissance Technologies LLC’s holdings in FedEx were worth $12,055,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in FDX. Capital International Investors boosted its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Sentry LLC acquired a new stake in shares of FedEx in the fourth quarter valued at $307,007,000. Vanguard Group Inc. boosted its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Putnam Investments LLC grew its stake in FedEx by 38.1% during 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 in the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings 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 worth $654,401,000 after purchasing an additional 684,679 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 15.2 %

Shares of NYSE:FDX 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 company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market cap 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 firm has a fifty day moving average price of $292.43 and a 200 day moving average price of $275.22.

FedEx (NYSE:FDX) last announced its earnings results 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 business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company posted $4.55 EPS. Sell-side analysts predict that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

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

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, 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 link. In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on 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 directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last three months. 8.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FDX shares. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Bank of America reduced their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $315.95.

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.