ProShare Advisors LLC Purchases 2,230 Shares of FedEx Co. (NYSE:FDX)

ProShare Advisors LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 6.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,209 shares of the shipping service provider’s stock after purchasing an additional 2,230 shares during the quarter. ProShare Advisors LLC’s holdings in FedEx were worth $11,457,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the period. Capital International Investors boosted its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Putnam Investments LLC grew its position in shares of FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of 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 valued at $654,401,000 after purchasing an additional 684,679 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

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

FedEx Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FDX shares. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a report on Friday. StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday. Bank of America reduced their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.74.

Insider Activity at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’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 sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated 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 sold 32,944 shares of company stock worth $9,882,355 in the last three months. 8.73% of the stock is owned by insiders.

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.