Pacer Advisors Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX – Free Report) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,328 shares of the shipping service provider’s stock after selling 1,203 shares during the period. Pacer Advisors Inc.’s holdings in FedEx were worth $3,800,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Lavaca Capital LLC raised its stake in shares of FedEx by 71.4% during the first quarter. Lavaca Capital LLC now owns 2,946 shares of the shipping service provider’s stock worth $651,000 after buying an additional 1,227 shares during the last quarter. Truist Financial Corp raised its stake in shares of FedEx by 1.3% during the first quarter. Truist Financial Corp now owns 111,459 shares of the shipping service provider’s stock worth $25,467,000 after buying an additional 1,457 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of FedEx by 5.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,202 shares of the shipping service provider’s stock worth $503,000 after buying an additional 104 shares during the last quarter. GW&K Investment Management LLC bought a new stake in shares of FedEx during the first quarter worth approximately $27,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of FedEx during the first quarter worth approximately $405,000. 73.61% of the stock is owned by institutional investors.
FedEx Stock Performance
Shares of FDX stock opened at $261.09 on Friday. The company’s fifty day simple moving average is $260.70 and its 200-day simple moving average is $239.50. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.76. The firm has a market cap of $65.64 billion, a PE ratio of 15.92, a P/E/G ratio of 1.24 and a beta of 1.36. FedEx Co. has a 12 month low of $141.92 and a 12 month high of $270.95.
FedEx Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, September 8th. FedEx’s dividend payout ratio is currently 30.73%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on FDX. Barclays boosted their price objective on shares of FedEx from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, September 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FedEx from $255.00 to $295.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley boosted their price objective on shares of FedEx from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird restated an “outperform” rating and set a $300.00 price objective on shares of FedEx in a report on Thursday, September 14th. Finally, Wells Fargo & Company boosted their price objective on shares of FedEx from $270.00 to $280.00 and gave the company an “equal weight” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $268.76.
Read Our Latest Stock Report on FDX
Insider Buying and Selling at FedEx
In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the completion of the sale, the executive vice president now owns 22,478 shares in the company, valued at approximately $5,886,538.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jennifer L. Johnson sold 10,801 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the sale, the vice president now owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The disclosure for this sale can be found here. Insiders sold a total of 35,816 shares of company stock worth $8,822,147 over the last quarter. 8.73% of the stock is currently owned by insiders.
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.
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