Pacer Advisors Inc. Sells 10,786 Shares of FedEx Corporation $FDX

Pacer Advisors Inc. lowered its holdings in FedEx Corporation (NYSE:FDX) by 48.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,259 shares of the shipping service provider’s stock after selling 10,786 shares during the quarter. Pacer Advisors Inc.’s holdings in FedEx were worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FDX. Hollencrest Capital Management bought a new stake in FedEx in the 1st quarter worth about $25,000. Bayban bought a new position in FedEx during the 1st quarter valued at about $26,000. EFG International AG purchased a new stake in shares of FedEx during the 4th quarter valued at about $27,000. Wealth Watch Advisors INC purchased a new stake in shares of FedEx during the 3rd quarter valued at about $28,000. Finally, Tucker Asset Management LLC bought a new stake in shares of FedEx in the fourth quarter worth approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of NYSE FDX opened at $316.86 on Friday. FedEx Corporation has a 12-month low of $176.00 and a 12-month high of $345.36. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $321.35 and a 200 day moving average of $350.47.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FDX. Seaport Research Partners started coverage on shares of FedEx in a report on Wednesday, May 27th. They set a “buy” rating for the company. BNP Paribas Exane cut their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. HSBC decreased their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. TD Cowen lowered their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.