Brandes Investment Partners LP Has $178.76 Million Position in FedEx Co. (NYSE:FDX)

Brandes Investment Partners LP raised its position in FedEx Co. (NYSE:FDX) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 596,814 shares of the shipping service provider’s stock after buying an additional 52,562 shares during the period. FedEx accounts for 2.2% of Brandes Investment Partners LP’s investment portfolio, making the stock its 8th biggest holding. Brandes Investment Partners LP’s holdings in FedEx were worth $178,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC raised 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 valued at $25,000 after buying an additional 50 shares during the period. Central Valley Advisors LLC purchased a new position in shares of FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management grew its stake in shares of FedEx by 175.9% during the 2nd 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 period. Finally, Sachetta LLC increased its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $267.55 on Monday. The stock has a market capitalization of $65.84 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business’s 50 day simple moving average is $288.06 and its two-hundred day simple moving average is $275.67.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.55 earnings per share. Analysts forecast that FedEx Co. will post 19.66 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. FedEx’s dividend payout ratio is currently 32.04%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company raised 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. Bernstein Bank boosted their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Bank of America lowered their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.74.

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 14,399 shares of company stock valued at $4,420,615 over the last ninety days. 8.73% of the stock is owned by insiders.

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.