Mutual of America Capital Management LLC Sells 746 Shares of FedEx Co. (NYSE:FDX)

Mutual of America Capital Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,174 shares of the shipping service provider’s stock after selling 746 shares during the period. Mutual of America Capital Management LLC’s holdings in FedEx were worth $10,247,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FDX. 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 worth $2,558,718,000 after buying an additional 2,163,622 shares during the period. Sentry LLC bought a new stake in shares of FedEx during the 4th quarter worth $307,007,000. Vanguard Group Inc. boosted its holdings in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the period. Putnam Investments LLC boosted its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. boosted 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 buying an additional 684,679 shares during the period. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Raymond James reduced their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. The Goldman Sachs Group increased their price target on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Robert W. Baird reissued an “outperform” rating and issued a $340.00 price target on shares of FedEx in a report on Friday, September 13th. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $314.58.

Insider Buying and Selling

In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated 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 owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at approximately $278,293.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly 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 valued at $9,882,355 over the last quarter. 8.73% of the stock is owned by company insiders.

FedEx Price Performance

NYSE:FDX opened at $298.17 on Thursday. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a market cap of $73.37 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.03 and a beta of 1.17. The firm’s fifty day moving average price is $293.30 and its two-hundred day moving average price is $274.62. 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 (NYSE:FDX) last released its quarterly 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 business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the company posted $4.94 earnings per share. FedEx’s revenue was up .8% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

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

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.