PGGM Investments Has $1.84 Million Stock Holdings in FedEx Co. (NYSE:FDX)

PGGM Investments raised its stake in FedEx Co. (NYSE:FDX) by 7.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,290 shares of the shipping service provider’s stock after buying an additional 524 shares during the quarter. PGGM Investments’ holdings in FedEx were worth $1,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDX. KRS Capital Management LLC raised its stake in FedEx by 4.1% during the 4th quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after buying an additional 41 shares during the period. Zullo Investment Group Inc. raised its stake in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after purchasing an additional 42 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after purchasing an additional 44 shares during the last quarter. SVB Wealth LLC raised its stake in shares of FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of FedEx by 42.5% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $265.84 on Monday. FedEx Co. has a one year low of $213.80 and a one year high of $291.27. The business has a fifty day moving average price of $262.17 and a 200-day moving average price of $254.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market capitalization of $65.42 billion, a P/E ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period last year, the company earned $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities research analysts forecast that FedEx Co. will post 17.69 EPS for the current year.

FedEx announced that its board has authorized a share buyback plan on Thursday, March 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FDX. Robert W. Baird increased their price objective on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Jefferies Financial Group increased their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. TD Cowen increased their price objective on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, BNP Paribas reaffirmed an “underperform” rating and set a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

About FedEx

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.