D. E. Shaw & Co. Inc. Reduces Holdings in FedEx Co. (NYSE:FDX)

D. E. Shaw & Co. Inc. lessened its holdings in FedEx Co. (NYSE:FDX) by 31.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,778 shares of the shipping service provider’s stock after selling 50,646 shares during the period. D. E. Shaw & Co. Inc.’s holdings in FedEx were worth $33,815,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Precision Wealth Strategies LLC purchased a new stake in shares of FedEx in the fourth quarter valued at $324,000. TD Asset Management Inc boosted its stake in shares of FedEx by 6.7% during the 4th quarter. TD Asset Management Inc now owns 85,373 shares of the shipping service provider’s stock worth $21,597,000 after purchasing an additional 5,350 shares during the last quarter. Avestar Capital LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $219,000. Bank of Nova Scotia raised its position in shares of FedEx by 36.3% in the fourth quarter. Bank of Nova Scotia now owns 112,397 shares of the shipping service provider’s stock valued at $28,432,000 after buying an additional 29,918 shares during the last quarter. Finally, Rathbones Group PLC lifted its stake in shares of FedEx by 85.2% during the fourth quarter. Rathbones Group PLC now owns 27,633 shares of the shipping service provider’s stock valued at $6,990,000 after buying an additional 12,712 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 0.5 %

FedEx stock opened at $267.55 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a market capitalization of $65.84 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. The firm has a 50 day simple moving average of $288.06 and a 200-day simple moving average of $275.53.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the business posted $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 yield of 2.06%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is 32.04%.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,399 shares of company stock worth $4,420,615. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Robert W. Baird dropped their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Loop Capital decreased their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, Susquehanna cut their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.74.

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.