FedEx Co. (FDX) Holdings Boosted by American International Group Inc.

American International Group Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,647 shares of the shipping service provider’s stock after purchasing an additional 4,500 shares during the period. American International Group Inc.’s holdings in FedEx were worth $19,660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Palo Capital Inc. acquired a new stake in shares of FedEx in the 3rd quarter worth approximately $108,000. Moneta Group Investment Advisors LLC grew its holdings in shares of FedEx by 14,117.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after acquiring an additional 63,386 shares during the period. Fortis Advisors LLC grew its holdings in shares of FedEx by 278.2% in the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after acquiring an additional 370 shares during the period. Lenox Wealth Advisors LLC acquired a new stake in shares of FedEx in the 3rd quarter worth approximately $120,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of FedEx in the 2nd quarter worth approximately $129,000. Institutional investors own 71.23% of the company’s stock.

In other FedEx news, Director John A. Edwardson sold 1,160 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the sale, the director now owns 32,800 shares in the company, valued at approximately $7,949,080. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan Patricia Griffith bought 1,000 shares of the stock in a transaction on Wednesday, October 17th. The shares were bought at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. 8.45% of the stock is currently owned by corporate insiders.

A number of research firms recently weighed in on FDX. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Morgan Stanley set a $240.00 price target on FedEx and gave the stock a “hold” rating in a report on Monday, October 22nd. JPMorgan Chase & Co. restated a “buy” rating and issued a $305.00 price target on shares of FedEx in a report on Tuesday, September 18th. Credit Suisse Group set a $307.00 price target on FedEx and gave the stock a “buy” rating in a report on Tuesday, September 18th. Finally, Bank of America lowered their price target on FedEx from $310.00 to $304.00 and set a “buy” rating on the stock in a report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $285.57.

Shares of NYSE:FDX opened at $222.55 on Friday. The firm has a market cap of $58.33 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a one year low of $207.90 and a one year high of $274.66.

FedEx (NYSE:FDX) last announced its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). The company had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. FedEx had a net margin of 7.16% and a return on equity of 23.71%. FedEx’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. As a group, equities research analysts forecast that FedEx Co. will post 17.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, December 7th. FedEx’s dividend payout ratio (DPR) is presently 16.98%.

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FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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