American Century Companies Inc. Acquires 35,224 Shares of FedEx Co. (NYSE:FDX)

American Century Companies Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 11.2% in the second quarter, HoldingsChannel.com reports. The fund owned 351,134 shares of the shipping service provider’s stock after purchasing an additional 35,224 shares during the period. American Century Companies Inc.’s holdings in FedEx were worth $105,284,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Precision Wealth Strategies LLC purchased a new stake in shares of FedEx during the 4th quarter valued at $324,000. Foundations Investment Advisors LLC increased its stake in FedEx by 18.3% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,252 shares of the shipping service provider’s stock valued at $545,000 after acquiring an additional 348 shares during the last quarter. Quadrant Capital Group LLC raised its position in FedEx by 7.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,679 shares of the shipping service provider’s stock valued at $678,000 after purchasing an additional 179 shares in the last quarter. Haverford Trust Co increased its position in shares of FedEx by 2.9% during the 4th quarter. Haverford Trust Co now owns 1,891 shares of the shipping service provider’s stock valued at $478,000 after purchasing an additional 54 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in shares of FedEx by 19.2% during the 4th quarter. Meridian Wealth Management LLC now owns 1,354 shares of the shipping service provider’s stock valued at $343,000 after buying an additional 218 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 0.1 %

Shares of FedEx stock opened at $286.38 on Friday. The company’s fifty day simple moving average is $293.17 and its two-hundred day simple moving average is $273.36. FedEx Co. has a 12-month low of $224.69 and a 12-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. The company has a market cap of $70.47 billion, a P/E ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. FedEx’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.94 earnings per share. Research analysts anticipate that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. FedEx’s dividend payout ratio is presently 32.04%.

Analysts Set New Price Targets

Several brokerages have issued reports on FDX. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Bank of America upped their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Evercore ISI cut their price target on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.67.

Insider Buying and Selling

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. Company insiders own 8.73% of the company’s stock.

About FedEx

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.