Meeder Asset Management Inc. raised its holdings in FedEx Co. (NYSE:FDX) by 2,057.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 453 shares of the shipping service provider’s stock after acquiring an additional 432 shares during the quarter. Meeder Asset Management Inc.’s holdings in FedEx were worth $74,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Comerica Securities Inc. raised its stake in FedEx by 369.7% in the 4th quarter. Comerica Securities Inc. now owns 43,263 shares of the shipping service provider’s stock valued at $6,986,000 after purchasing an additional 34,052 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of FedEx by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after acquiring an additional 418,451 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FedEx by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock worth $442,149,000 after purchasing an additional 185,252 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in FedEx during the 1st quarter valued at about $558,000. Finally, Private Capital Group LLC boosted its holdings in FedEx by 16.1% during the 1st quarter. Private Capital Group LLC now owns 751 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 71.79% of the company’s stock.
FDX opened at $148.87 on Wednesday. The firm has a market cap of $39.64 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.65. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $163.24 and its two-hundred day moving average is $172.52. FedEx Co. has a 52 week low of $148.80 and a 52 week high of $259.25.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, September 6th. FedEx’s payout ratio is currently 16.75%.
In related news, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the sale, the director now directly owns 16,440 shares in the company, valued at $2,661,307.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares in the company, valued at $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.44% of the company’s stock.
A number of equities analysts recently commented on FDX shares. Goldman Sachs Group started coverage on FedEx in a report on Wednesday, July 10th. They set a “buy” rating and a $200.00 target price for the company. Loop Capital lowered their target price on FedEx from $262.00 to $220.00 in a report on Wednesday, June 26th. UBS Group set a $136.00 target price on FedEx and gave the company a “sell” rating in a report on Wednesday, June 26th. Cowen restated an “outperform” rating and set a $228.00 target price (down from $230.00) on shares of FedEx in a report on Thursday, June 20th. Finally, Morgan Stanley set a $143.00 price objective on FedEx and gave the company a “hold” rating in a research note on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $191.63.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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