HYA Advisors Inc decreased its position in FedEx Co. (NYSE:FDX) by 7.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,471 shares of the shipping service provider’s stock after selling 119 shares during the period. HYA Advisors Inc’s holdings in FedEx were worth $439,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC raised its holdings in shares of FedEx by 980.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,270,674 shares of the shipping service provider’s stock worth $360,921,000 after buying an additional 1,153,097 shares in the last quarter. Citigroup Inc. increased its position in FedEx by 10,682.3% during the first quarter. Citigroup Inc. now owns 394,404 shares of the shipping service provider’s stock worth $112,026,000 after buying an additional 398,131 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of FedEx by 100.1% in the second quarter. Lord Abbett & CO. LLC now owns 766,348 shares of the shipping service provider’s stock valued at $228,625,000 after buying an additional 383,348 shares during the period. AQR Capital Management LLC increased its holdings in shares of FedEx by 58.7% during the first quarter. AQR Capital Management LLC now owns 904,172 shares of the shipping service provider’s stock worth $256,821,000 after buying an additional 334,501 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in FedEx by 290.6% in the first quarter. Nordea Investment Management AB now owns 336,820 shares of the shipping service provider’s stock valued at $96,395,000 after purchasing an additional 250,579 shares during the period. 72.64% of the stock is owned by institutional investors and hedge funds.
FDX stock traded down $3.55 during midday trading on Tuesday, reaching $222.96. 108,717 shares of the company’s stock traded hands, compared to its average volume of 2,427,539. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average is $268.35 and its 200 day moving average is $284.43. FedEx Co. has a 52-week low of $225.68 and a 52-week high of $319.90. The stock has a market cap of $59.23 billion, a P/E ratio of 11.96, a PEG ratio of 0.93 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, September 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. FedEx’s dividend payout ratio (DPR) is presently 16.51%.
In related news, EVP Robert B. Carter sold 16,235 shares of the stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $299.66, for a total transaction of $4,864,980.10. Following the completion of the sale, the executive vice president now owns 68,680 shares in the company, valued at approximately $20,580,648.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.16% of the company’s stock.
A number of research analysts recently weighed in on the stock. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of FedEx from $375.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, September 23rd. They noted that the move was a valuation call. BMO Capital Markets reduced their price objective on shares of FedEx from $315.00 to $300.00 and set a “market perform” rating for the company in a research note on Wednesday, September 22nd. KeyCorp reduced their price target on shares of FedEx from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 22nd. Finally, Barclays cut their price objective on shares of FedEx from $375.00 to $345.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $323.92.
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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