Seeyond reduced its holdings in FedEx Co. (NYSE:FDX) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,165 shares of the shipping service provider’s stock after selling 145 shares during the quarter. Seeyond’s holdings in FedEx were worth $848,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Cibc World Markets Corp lifted its position in shares of FedEx by 24.3% in the 2nd quarter. Cibc World Markets Corp now owns 50,053 shares of the shipping service provider’s stock worth $8,218,000 after buying an additional 9,787 shares during the last quarter. South Dakota Investment Council lifted its stake in shares of FedEx by 41.9% in the second quarter. South Dakota Investment Council now owns 146,276 shares of the shipping service provider’s stock worth $24,017,000 after buying an additional 43,200 shares during the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of FedEx by 210.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 14,800 shares of the shipping service provider’s stock worth $2,430,000 after acquiring an additional 10,032 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in shares of FedEx by 10.9% in the second quarter. Commonwealth Bank of Australia now owns 45,380 shares of the shipping service provider’s stock worth $7,444,000 after acquiring an additional 4,464 shares during the period. Finally, Tyers Asset Management LLC grew its position in FedEx by 210.4% in the 2nd quarter. Tyers Asset Management LLC now owns 20,350 shares of the shipping service provider’s stock valued at $3,341,000 after acquiring an additional 13,794 shares during the last quarter. Institutional investors own 71.40% of the company’s stock.
NYSE FDX traded up $1.21 during trading on Friday, reaching $174.72. 86,818 shares of the company’s stock were exchanged, compared to its average volume of 1,570,284. The stock has a market cap of $44.93 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45. The company has a 50 day moving average price of $161.65 and a two-hundred day moving average price of $171.08. FedEx Co. has a 1 year low of $147.82 and a 1 year high of $259.25.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, September 6th. FedEx’s payout ratio is currently 16.75%.
Several analysts recently commented on FDX shares. Raymond James dropped their target price on FedEx from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. Credit Suisse Group decreased their target price on FedEx from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 26th. Bank of America cut their target price on FedEx from $188.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Goldman Sachs Group began coverage on FedEx in a research note on Wednesday, July 10th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating and set a $161.00 price objective for the company. in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. FedEx currently has a consensus rating of “Buy” and an average price target of $190.92.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the completion of the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total value of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.
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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