Acadian Asset Management LLC Raises Position in FedEx Co. (NYSE:FDX)

Acadian Asset Management LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,268 shares of the shipping service provider’s stock after buying an additional 505 shares during the quarter. Acadian Asset Management LLC’s holdings in FedEx were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of FedEx during the fourth quarter valued at $700,291,000. Capital International Investors boosted its holdings in shares of FedEx by 32.5% during 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 acquiring an additional 2,163,622 shares during the last quarter. Sentry LLC bought a new stake in shares of FedEx in the fourth quarter worth approximately $307,007,000. Vanguard Group Inc. raised its holdings in shares of FedEx by 5.6% during the first 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 during the last quarter. Finally, Putnam Investments LLC lifted its position in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the period. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FDX shares. The Goldman Sachs Group increased their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Evercore ISI cut their price target on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Finally, StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.67.

FedEx Trading Up 0.1 %

FDX stock opened at $286.38 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The business has a 50 day simple moving average of $293.17 and a two-hundred day simple moving average of $273.36. The company has a market capitalization of $70.47 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.94 earnings per share. Research analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.93%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Activity at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. Insiders own 8.73% of the company’s stock.

About FedEx

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.