FedEx Co. (NYSE:FDX) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 42.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,765 shares of the shipping service provider’s stock after selling 6,512 shares during the period. Desjardins Global Asset Management Inc.’s holdings in FedEx were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after purchasing an additional 59,161 shares during the period. FMR LLC boosted its stake in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Morgan Stanley boosted its stake in shares of FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after acquiring an additional 559,607 shares in the last quarter. Invesco Ltd. lifted its stake in FedEx by 13.6% in the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after buying an additional 360,680 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in FedEx by 2.6% in the 3rd quarter. Northern Trust Corp now owns 2,356,109 shares of the shipping service provider’s stock valued at $624,180,000 after buying an additional 60,201 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent research reports. Bank of America reduced their target price on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. The Goldman Sachs Group increased their price target on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Stephens reduced their price target on FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Stock Performance

Shares of NYSE FDX opened at $264.86 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $257.89 and its two-hundred day moving average price is $254.05. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The stock has a market capitalization of $65.18 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the company posted $3.41 earnings per share. FedEx’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.90%. FedEx’s payout ratio is currently 29.07%.

FedEx declared that its board has authorized a share repurchase plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at FedEx

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the transaction, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is owned by company insiders.

FedEx 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.