FedEx Co. (NYSE:FDX) Shares Purchased by Keene & Associates Inc.

Keene & Associates Inc. raised its stake in FedEx Co. (NYSE:FDX) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,375 shares of the shipping service provider’s stock after purchasing an additional 126 shares during the period. FedEx comprises 3.5% of Keene & Associates Inc.’s investment portfolio, making the stock its 3rd biggest position. Keene & Associates Inc.’s holdings in FedEx were worth $4,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and upped their target price for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. TD Cowen initiated coverage on shares of FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 price target on the stock. Robert W. Baird reissued an “outperform” rating and issued a $340.00 price target on shares of FedEx in a research report on Friday. Finally, UBS Group dropped their price target on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.67.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on 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 approximately $3,797,974.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

FedEx Stock Up 0.1 %

FDX opened at $286.38 on Monday. 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 12 month low of $224.69 and a 12 month high of $313.84. The stock has a market capitalization of $70.47 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17. The business has a 50 day simple moving average of $293.17 and a 200-day simple moving average of $273.79.

FedEx (NYSE:FDX) last released 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 company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter last year, the company earned $4.94 earnings per share. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

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.