Pensioenfonds Rail & OV Decreases Position in FedEx Co. (NYSE:FDX)

Pensioenfonds Rail & OV cut its holdings in shares of FedEx Co. (NYSE:FDX) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,092 shares of the shipping service provider’s stock after selling 234 shares during the period. FedEx accounts for approximately 3.3% of Pensioenfonds Rail & OV’s holdings, making the stock its 8th biggest holding. Pensioenfonds Rail & OV owned about 0.06% of FedEx worth $43,403,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FDX. Fortis Group Advisors LLC grew its holdings in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC bought a new position in shares of FedEx in the 4th quarter worth $25,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth $39,000. Security National Bank bought a new stake in FedEx in the fourth quarter valued at about $44,000. Finally, Abound Wealth Management lifted its stake in 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. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly 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 can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the firm’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 sale, the executive vice president now directly 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 12,914 shares of company stock valued at $3,978,338 in the last quarter. Company insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Stifel Nicolaus lowered their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Finally, HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.74.

FedEx Price Performance

Shares of NYSE FDX opened at $269.56 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business has a 50-day moving average of $286.76 and a 200-day moving average of $275.91. The stock has a market capitalization of $66.33 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.04 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.

FedEx (NYSE:FDX) last posted 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). The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $4.55 EPS. As a group, sell-side analysts predict that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio 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.