Thompson Siegel & Walmsley LLC Sells 6,694 Shares of FedEx Co. (NYSE:FDX)

Thompson Siegel & Walmsley LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,397 shares of the shipping service provider’s stock after selling 6,694 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in FedEx were worth $6,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FDX. Vanguard Group Inc. lifted its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Capital International Investors increased its position in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the period. Norges Bank purchased a new position in shares of FedEx in the fourth quarter worth approximately $700,291,000. Finally, Mawer Investment Management Ltd. grew its position in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 over the last ninety days. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FDX. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Evercore ISI lowered their target price on FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a research report on Thursday. Bank of America boosted their price target on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Morgan Stanley raised their price objective on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Finally, StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.67.

FedEx Price Performance

Shares of FedEx stock opened at $286.38 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The stock has a 50 day moving average of $293.17 and a 200 day moving average of $273.79. The firm has a market cap of $70.47 billion, a PE ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the company earned $4.94 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s payout ratio is currently 32.04%.

FedEx 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.