FedEx Co. (NYSE:FDX) Shares Sold by Sun Life Financial INC

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Sun Life Financial INC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 52.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195 shares of the shipping service provider’s stock after selling 213 shares during the quarter. Sun Life Financial INC’s holdings in FedEx were worth $32,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Parnassus Investments CA increased its holdings in shares of FedEx by 2,614.2% during the second quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock valued at $574,644,000 after acquiring an additional 3,370,929 shares in the last quarter. Northern Trust Corp increased its holdings in shares of FedEx by 1.4% during the first quarter. Northern Trust Corp now owns 2,898,010 shares of the shipping service provider’s stock valued at $525,728,000 after acquiring an additional 38,692 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in shares of FedEx by 0.7% during the first quarter. Greenhaven Associates Inc. now owns 2,749,967 shares of the shipping service provider’s stock valued at $498,872,000 after acquiring an additional 20,450 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of FedEx by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock valued at $442,149,000 after acquiring an additional 185,252 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of FedEx by 40.7% during the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after acquiring an additional 792,575 shares in the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.

In other news, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the transaction, the director now owns 16,440 shares in the company, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 23,100 shares of the 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 transaction, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Corporate insiders own 8.44% of the company’s stock.

A number of equities research analysts recently commented on the company. Sanford C. Bernstein set a $205.00 target price on FedEx and gave the company a “buy” rating in a research report on Thursday, June 20th. Cowen reiterated an “outperform” rating and issued a $228.00 target price (down previously from $230.00) on shares of FedEx in a research report on Thursday, June 20th. TheStreet lowered FedEx from a “b-” rating to a “c+” rating in a research report on Thursday, June 6th. ValuEngine lowered FedEx from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Loop Capital dropped their target price on FedEx from $262.00 to $220.00 in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $191.42.

FedEx stock traded up $1.16 during mid-day trading on Friday, hitting $158.61. The company had a trading volume of 1,098,185 shares, compared to its average volume of 1,784,133. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. FedEx Co. has a 12-month low of $147.82 and a 12-month high of $259.25. The company’s fifty day moving average is $163.00 and its 200-day moving average is $172.21. The company has a market capitalization of $41.06 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.85 and a beta of 1.65.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.93 by $0.08. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The business had revenue of $17.81 billion for the quarter, compared to analyst estimates of $17.85 billion. During the same quarter in the prior year, the firm posted $5.91 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 14.7 EPS for the current fiscal year.

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 given a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 annualized dividend and a yield of 1.64%. FedEx’s dividend payout ratio is presently 16.75%.

FedEx Profile

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.

Further Reading: Systematic Risk and Investors

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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