IFM Investors Pty Ltd Sells 1,291 Shares of FedEx Co. (NYSE:FDX)

IFM Investors Pty Ltd reduced its position in shares of FedEx Co. (NYSE:FDX) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,175 shares of the shipping service provider’s stock after selling 1,291 shares during the quarter. IFM Investors Pty Ltd’s holdings in FedEx were worth $12,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FDX. Vanguard Group Inc. grew its holdings in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors boosted its stake 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 worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Mawer Investment Management Ltd. increased its holdings in shares of FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $272.87 on Friday. The stock’s 50-day moving average is $279.32 and its 200-day moving average is $274.85. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a market cap of $67.15 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last announced 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). The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $4.55 earnings per share. Equities research analysts anticipate that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Analysts Set New Price Targets

A number of research analysts recently commented on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

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.