FedEx Co. (NYSE:FDX) Shares Sold by SRB Corp

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SRB Corp trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 25.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,007 shares of the shipping service provider’s stock after selling 1,005 shares during the quarter. SRB Corp’s holdings in FedEx were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FDX. Parnassus Investments CA lifted its position in FedEx by 2,614.2% during the 2nd quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock worth $574,644,000 after acquiring an additional 3,370,929 shares during the period. BlackRock Inc. lifted its position in FedEx by 9.5% during the 2nd quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after acquiring an additional 1,395,988 shares during the period. Artisan Partners Limited Partnership lifted its position in FedEx by 40.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after acquiring an additional 792,575 shares during the period. Nordea Investment Management AB lifted its position in FedEx by 63.5% during the 1st quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock worth $280,985,000 after acquiring an additional 601,465 shares during the period. Finally, LSV Asset Management lifted its position in FedEx by 39.7% during the 1st quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock worth $360,441,000 after acquiring an additional 564,452 shares during the period. 71.34% of the stock is owned by institutional investors.

NYSE FDX traded down $0.55 during mid-day trading on Tuesday, hitting $173.02. The stock had a trading volume of 1,487,084 shares, compared to its average volume of 1,545,117. FedEx Co. has a 52-week low of $147.82 and a 52-week high of $259.25. The company has a market cap of $45.41 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 0.93 and a beta of 1.69. The company has a 50 day simple moving average of $161.56 and a 200 day simple moving average of $170.94. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.08. The firm had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. FedEx’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $5.91 EPS. As a group, equities analysts anticipate that FedEx Co. will post 14.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Friday, September 6th. FedEx’s dividend payout ratio (DPR) is presently 16.75%.

In other news, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the transaction, the executive vice president now owns 68,446 shares of the company’s stock, valued at approximately $12,031,437.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the transaction, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by corporate insiders.

FDX has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on FedEx in a research note on Wednesday, July 10th. They set a “buy” rating and a $200.00 target price for the company. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating and set a $161.00 target price for the company. in a research note on Thursday, August 29th. Raymond James cut their target price on FedEx from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. Berenberg Bank set a $175.00 target price on FedEx and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Credit Suisse Group cut their target price on FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $190.92.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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