Public Sector Pension Investment Board Purchases 3,336 Shares of FedEx Co. (NYSE:FDX)

Public Sector Pension Investment Board raised its position in shares of FedEx Co. (NYSE:FDX) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,136 shares of the shipping service provider’s stock after acquiring an additional 3,336 shares during the period. Public Sector Pension Investment Board owned approximately 0.12% of FedEx worth $92,092,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in shares of FedEx in the fourth quarter valued at about $25,000. Fortis Group Advisors LLC lifted its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the period. Central Valley Advisors LLC bought a new stake in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC lifted its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FDX. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $215.00 to $200.00 in a research note on Friday. The Goldman Sachs Group decreased their price objective on FedEx from $333.00 to $332.00 in a report on Friday. BMO Capital Markets decreased their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Stifel Nicolaus decreased their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $315.95.

FedEx Stock Performance

FDX stock opened at $254.64 on Monday. 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 company has a 50 day moving average price of $292.43 and a 200 day moving average price of $275.22. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock 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). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the firm earned $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is accessible 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock worth $9,882,355. 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.