iA Global Asset Management Inc. Sells 3,376 Shares of FedEx Co. (NYSE:FDX)

iA Global Asset Management Inc. decreased its stake in shares of FedEx Co. (NYSE:FDX) by 26.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,519 shares of the shipping service provider’s stock after selling 3,376 shares during the quarter. iA Global Asset Management Inc.’s holdings in FedEx were worth $2,854,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Key Financial Inc acquired a new stake in shares of FedEx during the 2nd quarter valued at about $58,000. Lee Danner & Bass Inc. acquired a new stake in shares of FedEx during the 2nd quarter valued at about $18,824,000. Signaturefd LLC boosted its position in shares of FedEx by 22.9% during the 2nd quarter. Signaturefd LLC now owns 6,058 shares of the shipping service provider’s stock valued at $1,817,000 after acquiring an additional 1,127 shares in the last quarter. KCM Investment Advisors LLC boosted its position in shares of FedEx by 1.4% during the 2nd quarter. KCM Investment Advisors LLC now owns 6,401 shares of the shipping service provider’s stock valued at $1,919,000 after acquiring an additional 91 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of FedEx by 7.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 255,864 shares of the shipping service provider’s stock valued at $76,718,000 after acquiring an additional 18,042 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.9 %

FDX opened at $298.77 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. The company has a market cap of $73.52 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The firm has a 50 day simple moving average of $293.27 and a 200 day simple moving average of $270.00. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the prior year, the firm earned $4.94 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the sale, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. TD Cowen initiated coverage on shares of FedEx in a research report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target on the stock. Raymond James reduced their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, The Goldman Sachs Group boosted their price target on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

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.