FedEx Co. (NYSE:FDX) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of FedEx Co. (NYSE:FDX) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,413 shares of the shipping service provider’s stock after selling 170 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in FedEx were worth $1,323,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FDX. Capital International Investors increased its stake in shares of 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 purchasing an additional 2,163,622 shares in the last quarter. Sentry LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $307,007,000. Vanguard Group Inc. lifted its position in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Putnam Investments LLC grew its stake in FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. increased its holdings in FedEx by 43.5% in 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 acquiring an additional 684,679 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Evercore ISI cut their target price on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. 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 report on Wednesday, June 26th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, TD Cowen started coverage on shares of FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $314.58.

FedEx Stock Performance

NYSE:FDX opened at $300.39 on Friday. The company has a fifty day simple moving average of $293.32 and a two-hundred day simple moving average of $274.80. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a market cap of $73.92 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the company earned $4.94 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.84%. 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.