Pacer Advisors Inc. Reduces Stock Position in FedEx Co. (NYSE:FDX)

Pacer Advisors Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,359 shares of the shipping service provider’s stock after selling 123 shares during the quarter. Pacer Advisors Inc.’s holdings in FedEx were worth $4,905,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AE Wealth Management LLC increased its position in shares of FedEx by 49.0% during the second quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock worth $864,000 after acquiring an additional 948 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of FedEx by 17.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,489 shares of the shipping service provider’s stock worth $5,544,000 after buying an additional 2,784 shares during the period. Ieq Capital LLC increased its stake in shares of FedEx by 4.9% during 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. Brighton Jones LLC lifted its stake in FedEx by 4.7% in 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 during the period. Finally, XTX Topco Ltd bought a new position in FedEx during the 2nd quarter worth about $4,096,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FDX shares. Loop Capital dropped their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday. Stifel Nicolaus dropped their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday. UBS Group reduced their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.74.

Insider Transactions at FedEx

In related news, 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred 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 directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of the 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 transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. 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 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

FedEx Price Performance

Shares of FDX opened at $258.82 on Tuesday. The business’s 50-day moving average is $291.50 and its two-hundred day moving average is $275.28. The company has a market capitalization of $63.69 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. 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 quarterly 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). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the business posted $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.