Profund Advisors LLC Sells 111 Shares of FedEx Co. (NYSE:FDX)

Profund Advisors LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,553 shares of the shipping service provider’s stock after selling 111 shares during the quarter. Profund Advisors LLC’s holdings in FedEx were worth $1,065,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hancock Whitney Corp raised its holdings in FedEx by 0.7% during the 2nd quarter. Hancock Whitney Corp now owns 48,130 shares of the shipping service provider’s stock valued at $14,431,000 after buying an additional 326 shares during the period. Symmetry Investments LP bought a new position in FedEx during the second quarter valued at $702,000. Clayton Partners LLC lifted its holdings in shares of FedEx by 34.3% in the 2nd quarter. Clayton Partners LLC now owns 13,259 shares of the shipping service provider’s stock worth $3,976,000 after acquiring an additional 3,390 shares during the last quarter. Legacy Financial Advisors Inc. boosted its stake in shares of FedEx by 5.1% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,379 shares of the shipping service provider’s stock worth $413,000 after purchasing an additional 67 shares during the period. Finally, Summit Trail Advisors LLC grew its holdings in FedEx by 99.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,594 shares of the shipping service provider’s stock valued at $1,384,000 after purchasing an additional 2,292 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. 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. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

FDX stock opened at $258.82 on Tuesday. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The firm has a market cap of $63.69 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a 50-day simple moving average of $291.50 and a two-hundred day simple moving average of $275.28.

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

FedEx Dividend Announcement

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 paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analysts Set New Price Targets

Several analysts have issued reports on FDX shares. Argus raised their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a report on Friday. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

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.