FedEx Co. (NYSE:FDX) Shares Sold by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 14.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,575 shares of the shipping service provider’s stock after selling 6,880 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in FedEx were worth $12,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FDX. Fortis Group Advisors LLC increased its stake in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx in the 4th quarter worth about $25,000. Private Wealth Management Group LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Sachetta LLC bought a new position in shares of FedEx during the fourth quarter worth about $32,000. Finally, Northwest Financial Advisors bought a new position in shares of FedEx during the fourth quarter worth about $33,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of NYSE FDX opened at $283.04 on Monday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. 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 stock has a fifty day moving average price of $294.25 and a two-hundred day moving average price of $272.31. The firm has a market cap of $69.15 billion, a P/E ratio of 16.43, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.94 earnings per share. Research 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 given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.95%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Activity

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a 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 dated 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 sale, the chief executive officer now 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 90 days, insiders sold 32,944 shares of company stock worth $9,882,355. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Robert W. Baird upped their price objective on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Wells Fargo & Company raised their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group lifted their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Stifel Nicolaus reissued a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Finally, Raymond James decreased 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock 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.