DekaBank Deutsche Girozentrale Lowers Stake in FedEx Co. (NYSE:FDX)

DekaBank Deutsche Girozentrale trimmed its position in FedEx Co. (NYSE:FDX) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,219 shares of the shipping service provider’s stock after selling 5,354 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.06% of FedEx worth $42,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of FedEx during the 4th quarter valued at $700,291,000. Capital International Investors lifted its stake 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 purchasing an additional 2,163,622 shares in the last quarter. Sentry LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $307,007,000. Vanguard Group Inc. grew its stake in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on 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 owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the 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 directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last quarter. 8.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on FDX shares. Morgan Stanley increased their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. The Goldman Sachs Group lifted their target price on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.67.

FedEx Price Performance

Shares of NYSE:FDX opened at $286.38 on Friday. The company has a market cap of $70.47 billion, a PE ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The firm has a 50-day simple moving average of $293.17 and a 200 day simple moving average of $273.58. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced 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 return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the prior year, the firm earned $4.94 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

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 paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s payout ratio is 32.04%.

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.