Sumitomo Mitsui Trust Holdings Inc. Sells 12,295 Shares of FedEx Co. (NYSE:FDX)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,527 shares of the shipping service provider’s stock after selling 12,295 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of FedEx worth $173,417,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MBM Wealth Consultants LLC increased its stake in shares of FedEx by 10.6% in the 1st quarter. MBM Wealth Consultants LLC now owns 4,252 shares of the shipping service provider’s stock valued at $1,237,000 after acquiring an additional 409 shares in the last quarter. Buffington Mohr McNeal increased its stake in FedEx by 30.0% in the first quarter. Buffington Mohr McNeal now owns 3,262 shares of the shipping service provider’s stock valued at $945,000 after purchasing an additional 753 shares in the last quarter. Cullinan Associates Inc. acquired a new position in shares of FedEx during the first quarter valued at about $217,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of FedEx during the first quarter valued at about $205,000. Finally, Edmonds Duncan Registered Investment Advisors LLC bought a new position in shares of FedEx during the 1st quarter worth about $203,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of FedEx stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the completion of the sale, the chief executive officer now directly owns 84,614 shares of the company’s stock, valued at approximately $23,542,999.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Director David P. Steiner sold 1,369 shares of FedEx stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the transaction, the director now directly owns 35,183 shares of the company’s stock, valued at $10,474,330.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $278.24, for a total transaction of $368,668.00. Following the transaction, the chief executive officer now directly owns 84,614 shares in the company, valued at approximately $23,542,999.36. The disclosure for this sale can be found here. Insiders have sold 137,189 shares of company stock valued at $38,046,602 in the last quarter. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

NYSE:FDX traded down $1.07 during trading hours on Wednesday, hitting $297.15. The stock had a trading volume of 249,273 shares, compared to its average volume of 1,942,166. The company has a 50 day simple moving average of $258.67 and a two-hundred day simple moving average of $256.37. The firm has a market capitalization of $73.12 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a one year low of $224.69 and a one year high of $302.41.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.94 EPS. Research analysts forecast that FedEx Co. will post 20.67 earnings per share for the current fiscal year.

FedEx announced that its board has authorized a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is currently 32.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $325.00 price target on shares of FedEx in a research note on Wednesday, June 26th. UBS Group cut their target price on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Argus boosted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Finally, TD Cowen lifted their price objective on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.00.

FedEx Company 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.