Public Sector Pension Investment Board Has $92.09 Million Holdings in FedEx Co. (NYSE:FDX)

Public Sector Pension Investment Board increased its stake in shares of FedEx Co. (NYSE:FDX) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 307,136 shares of the shipping service provider’s stock after acquiring an additional 3,336 shares during the period. Public Sector Pension Investment Board’s holdings in FedEx were worth $92,092,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. boosted its position in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after buying an additional 5,055 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in FedEx during the 1st quarter worth approximately $1,667,000. Allegheny Financial Group LTD bought a new position in shares of FedEx during the 1st quarter worth approximately $203,000. Hilltop National Bank acquired a new stake in shares of FedEx in the first quarter valued at approximately $476,000. Finally, Csenge Advisory Group lifted its position in shares of FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after purchasing an additional 298 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on FDX. BMO Capital Markets lowered their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday. Stephens restated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday. Bank of America dropped their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $215.00 to $200.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $315.95.

Insider Activity

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’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 transaction of $2,611,688.94. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of FedEx 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 in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $254.64 on Monday. 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 stock has a 50 day simple moving average of $292.43 and a 200 day simple moving average of $275.22. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The stock has a market cap of $62.66 billion, a P/E ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the firm posted $4.55 EPS. The company’s revenue was down .5% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.17%. FedEx’s dividend payout ratio is presently 32.04%.

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.