FedEx Co. (NYSE:FDX) Shares Acquired by Macquarie Group Ltd.

Macquarie Group Ltd. grew its stake in FedEx Co. (NYSE:FDX) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,255 shares of the shipping service provider’s stock after purchasing an additional 2,228 shares during the period. Macquarie Group Ltd.’s holdings in FedEx were worth $3,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,234,930 shares of the shipping service provider’s stock valued at $732,448,000 after purchasing an additional 35,946 shares during the period. Morgan Stanley grew its holdings in FedEx by 19.6% during the fourth quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after acquiring an additional 559,607 shares during the period. FMR LLC grew its holdings in FedEx by 17.2% during the first quarter. FMR LLC now owns 3,354,802 shares of the shipping service provider’s stock worth $766,539,000 after acquiring an additional 491,207 shares during the period. Norges Bank acquired a new position in FedEx during the fourth quarter worth $388,787,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in FedEx by 2.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,990,243 shares of the shipping service provider’s stock worth $454,751,000 after acquiring an additional 38,269 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley boosted their target price on FedEx from $186.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. UBS Group boosted their target price on FedEx from $272.00 to $312.00 in a research report on Friday, September 1st. Argus boosted their target price on FedEx from $240.00 to $260.00 in a research report on Monday, June 26th. Stifel Nicolaus boosted their target price on FedEx from $259.00 to $288.00 in a research report on Wednesday, July 26th. Finally, Wells Fargo & Company upped their price objective on FedEx from $240.00 to $270.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.30.

Insider Activity

In related news, EVP Michael C. Lenz sold 5,745 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the transaction, the executive vice president now owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert B. Carter sold 19,270 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the transaction, the executive vice president now owns 58,875 shares of the company’s stock, valued at $14,483,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael C. Lenz sold 5,745 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the transaction, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at approximately $5,886,538.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,816 shares of company stock worth $8,822,147. 8.73% of the stock is currently owned by corporate insiders.

FedEx Price Performance

FDX stock opened at $249.33 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.33 and a current ratio of 1.37. FedEx Co. has a 1 year low of $141.92 and a 1 year high of $270.95. The firm has a market cap of $62.71 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.36. The stock has a 50-day simple moving average of $261.00 and a 200-day simple moving average of $238.32.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.55 billion. During the same quarter last year, the firm earned $6.87 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 17.37 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $1.26 dividend. The ex-dividend date is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.02%. FedEx’s dividend payout ratio (DPR) is currently 32.52%.

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.