FedEx Co. (NYSE:FDX) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC raised its stake in FedEx Co. (NYSE:FDX) by 9.4% in the second quarter, HoldingsChannel.com reports. The fund owned 92,093 shares of the shipping service provider’s stock after buying an additional 7,940 shares during the quarter. AQR Capital Management LLC’s holdings in FedEx were worth $27,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital International Investors boosted its position in shares of FedEx by 32.5% during the first 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 acquired a new position in shares of FedEx during the fourth quarter worth approximately $307,007,000. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 1,056,061 shares during the period. Putnam Investments LLC lifted its position in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the period. Finally, Mawer Investment Management Ltd. lifted its position in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE:FDX opened at $267.55 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $288.06 and a 200 day moving average price of $275.67. The firm 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. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Transactions at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly 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 available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,399 shares of company stock valued at $4,420,615. 8.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Evercore ISI cut their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Finally, Argus upped their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.