FedEx Co. (NYSE:FDX) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its position in FedEx Co. (NYSE:FDX) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,147 shares of the shipping service provider’s stock after buying an additional 4,289 shares during the quarter. TD Asset Management Inc’s holdings in FedEx were worth $27,030,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in FedEx by 5.6% in 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 in the last quarter. Capital International Investors increased its position in shares of FedEx by 32.5% in 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 purchasing an additional 2,163,622 shares during the last quarter. Putnam Investments LLC increased its position in shares of FedEx by 38.1% in the 4th 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 last quarter. Norges Bank bought a new stake in shares of FedEx in the 4th quarter worth about $700,291,000. Finally, Mawer Investment Management Ltd. increased its position in shares of FedEx by 43.5% in 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 purchasing an additional 684,679 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the business’s 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 owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Insiders own 8.73% of the company’s stock.

FedEx Trading Down 0.8 %

Shares of NYSE:FDX opened at $283.04 on Friday. The company has a 50 day moving average of $294.25 and a 200-day moving average of $272.09. The firm has a market cap of $69.65 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the prior year, the business posted $4.94 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FDX shares. Stephens reissued an “overweight” rating and issued a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. Morgan Stanley boosted their target price on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Evercore ISI lowered their price objective on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, Wells Fargo & Company boosted their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.