Vanguard Group Inc. Buys 1,056,061 Shares of FedEx Co. (NYSE:FDX)

Vanguard Group Inc. grew its stake in FedEx Co. (NYSE:FDX) by 5.6% during the first quarter, Holdings Channel.com reports. The fund owned 19,868,165 shares of the shipping service provider’s stock after purchasing an additional 1,056,061 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of FedEx worth $5,756,602,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FDX. Fortis Group Advisors LLC grew its stake in FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new position in FedEx in the 4th quarter worth about $25,000. Financial Management Professionals Inc. boosted its stake in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in shares of FedEx during the fourth quarter valued at approximately $30,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is currently owned by insiders.

FedEx Stock Performance

FedEx stock traded down $0.31 during trading hours on Friday, hitting $306.31. 1,294,627 shares of the stock traded hands, compared to its average volume of 2,671,847. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm’s 50 day moving average price is $268.99 and its 200-day moving average price is $260.56. The stock has a market capitalization of $74.83 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $4.94 EPS. As a group, equities analysts expect that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s payout ratio is presently 32.04%.

Analysts Set New Price Targets

Several brokerages have issued reports on FDX. Bank of America increased their target price on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Wells Fargo & Company boosted their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group boosted their price target on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.