Dark Forest Capital Management LP Has $354,000 Stock Holdings in FedEx Co. (NYSE:FDX)

Dark Forest Capital Management LP increased its holdings in shares of FedEx Co. (NYSE:FDX) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,180 shares of the shipping service provider’s stock after acquiring an additional 53 shares during the period. Dark Forest Capital Management LP’s holdings in FedEx were worth $354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital International Investors boosted its stake in 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 buying an additional 2,163,622 shares in the last quarter. Sentry LLC bought a new position in shares of FedEx during the fourth quarter valued at $307,007,000. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% in 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 purchasing an additional 1,056,061 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its position 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 worth $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Brie Carere sold 1,958 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Steiner sold 1,369 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total value of $407,564.99. Following the transaction, the director now owns 35,183 shares of the company’s stock, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. Insiders sold 14,399 shares of company stock worth $4,420,615 over the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

Shares of FDX stock opened at $267.55 on Friday. The stock has a market cap of $65.84 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The stock has a 50-day moving average of $288.06 and a 200-day moving average of $275.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a one year low of $224.69 and a one year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. As a group, sell-side analysts expect that FedEx Co. will post 19.66 earnings per share for the current year.

FedEx Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent analyst reports. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. HSBC downgraded 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. The Goldman Sachs Group cut their price objective on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Robert W. Baird decreased their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Wells Fargo & Company lifted their price target on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $314.74.

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.