FedEx Co. (NYSE:FDX) Stock Holdings Reduced by Sei Investments Co.

Sei Investments Co. cut its position in shares of FedEx Co. (NYSE:FDX) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,243 shares of the shipping service provider’s stock after selling 1,718 shares during the period. Sei Investments Co.’s holdings in FedEx were worth $56,446,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. AE Wealth Management LLC lifted its stake in FedEx by 49.0% in the second quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after acquiring an additional 948 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of FedEx by 17.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,489 shares of the shipping service provider’s stock valued at $5,544,000 after purchasing an additional 2,784 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of FedEx by 4.9% in the 2nd quarter. Ieq Capital LLC now owns 13,838 shares of the shipping service provider’s stock valued at $4,149,000 after purchasing an additional 647 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of FedEx by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 1,685 shares of the shipping service provider’s stock valued at $505,000 after purchasing an additional 75 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in FedEx in the second quarter worth $4,096,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of FedEx 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 owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last quarter. Insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FDX. TD Cowen reduced their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $315.95.

FedEx Trading Down 15.2 %

FDX stock opened at $254.64 on Monday. The business has a fifty day moving average price of $292.43 and a 200 day moving average price of $275.22. 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 fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the firm earned $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

FedEx Company 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.