Elo Mutual Pension Insurance Co Sells 2,153 Shares of FedEx Co. (NYSE:FDX)

Elo Mutual Pension Insurance Co lowered its stake in shares of FedEx Co. (NYSE:FDX) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,538 shares of the shipping service provider’s stock after selling 2,153 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in FedEx were worth $5,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new position in shares of FedEx during the fourth quarter worth approximately $25,000. Fortis Group Advisors LLC lifted its holdings in FedEx by 100.0% during the 4th 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 in the last quarter. Sachetta LLC acquired a new position in FedEx during the 4th quarter worth $32,000. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter valued at $39,000. Finally, Abound Wealth Management raised its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI decreased their price target on FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $340.00 target price on shares of FedEx in a research note on Friday, September 13th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.58.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX opened at $298.17 on Thursday. The firm’s 50 day moving average price is $293.30 and its two-hundred day moving average price is $274.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market cap of $73.37 billion, a P/E ratio of 17.31, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The business 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%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.94 EPS. On average, analysts forecast that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 1.85%. FedEx’s dividend payout ratio is currently 32.04%.

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.