Pacer Advisors Inc. Sells 2,040 Shares of FedEx Corporation $FDX

Pacer Advisors Inc. trimmed its stake in shares of FedEx Corporation (NYSE:FDXFree Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,045 shares of the shipping service provider’s stock after selling 2,040 shares during the period. Pacer Advisors Inc.’s holdings in FedEx were worth $6,368,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EFG International AG acquired a new stake in shares of FedEx in the 4th quarter valued at about $27,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx during the third quarter worth about $28,000. Ameriflex Group Inc. grew its holdings in shares of FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after buying an additional 63 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in shares of FedEx during the fourth quarter worth about $29,000. Finally, Tucker Asset Management LLC acquired a new stake in FedEx in the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is currently owned by insiders.

FedEx Price Performance

NYSE:FDX opened at $326.36 on Monday. The company has a market cap of $77.87 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.48 and a beta of 1.28. The firm’s fifty day moving average price is $368.64 and its two-hundred day moving average price is $345.13. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

FedEx (NYSE:FDXGet Free Report) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter last year, the company posted $4.51 EPS. FedEx’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that FedEx Corporation will post 19.78 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be given a dividend of $1.22 per share. The ex-dividend date is Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 30.87%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. The Goldman Sachs Group cut their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Wells Fargo & Company decreased their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday. Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Jefferies Financial Group boosted their price objective on shares of FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $432.00 to $460.00 in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $367.76.

Check Out Our Latest Report on FDX

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FedEx Company Profile

(Free Report)

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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