Pacer Advisors Inc. Has $4.09 Million Holdings in FedEx Co. (FDX)

Pacer Advisors Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 47,866.0% in the first quarter, HoldingsChannel.com reports. The fund owned 22,544 shares of the shipping service provider’s stock after buying an additional 22,497 shares during the period. Pacer Advisors Inc.’s holdings in FedEx were worth $4,089,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cordasco Financial Network boosted its position in FedEx by 181.8% during the 1st quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after acquiring an additional 100 shares during the period. Berman Capital Advisors LLC acquired a new position in FedEx during the 4th quarter worth $25,000. Northwest Wealth Management LLC boosted its position in FedEx by 842.1% during the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 160 shares during the period. Advocacy Wealth Management Services LLC boosted its position in FedEx by 52.5% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 63 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of FedEx by 1,666.7% in the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Institutional investors own 71.73% of the company’s stock.

Shares of FDX stock opened at $191.00 on Thursday. FedEx Co. has a 1-year low of $150.94 and a 1-year high of $266.67. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87. The firm has a market cap of $49.77 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter last year, the firm earned $3.72 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Co. will post 15.48 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $0.65 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.36%. FedEx’s dividend payout ratio (DPR) is currently 16.98%.

In other FedEx news, EVP Alan B. Graf, Jr. sold 27,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $173.30, for a total value of $4,679,100.00. Following the transaction, the executive vice president now owns 200,320 shares in the company, valued at $34,715,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The disclosure for this sale can be found here. Insiders sold 187,950 shares of company stock worth $35,170,622 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

A number of research firms have recently commented on FDX. Berenberg Bank reissued a “buy” rating and issued a $245.00 price objective on shares of FedEx in a research note on Monday, January 7th. Cowen reissued an “outperform” rating and issued a $237.00 price objective (down previously from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Wells Fargo & Co dropped their price objective on FedEx from $285.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, March 21st. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Finally, Credit Suisse Group dropped their price objective on FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $214.19.

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FedEx Profile

FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.

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Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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