V Square Quantitative Management LLC Raises Position in FedEx Co. (NYSE:FDX)

V Square Quantitative Management LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 4.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,111 shares of the shipping service provider’s stock after acquiring an additional 94 shares during the quarter. V Square Quantitative Management LLC’s holdings in FedEx were worth $633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Capital International Investors lifted its stake in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Sentry LLC purchased a new position in FedEx during the 4th quarter valued at about $1,811,748,000. Putnam Investments LLC lifted its position in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Finally, Norges Bank acquired a new stake in FedEx in the fourth quarter valued at $700,291,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

FedEx Trading Up 0.1 %

NYSE FDX traded up $0.28 during mid-day trading on Wednesday, hitting $283.38. The company’s stock had a trading volume of 309,681 shares, compared to its average volume of 1,871,753. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The stock’s fifty day simple moving average is $282.32 and its two-hundred day simple moving average is $265.86. The firm has a market capitalization of $69.73 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. The business had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $4.94 EPS. Research analysts expect that FedEx Co. will post 20.94 EPS for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were paid a dividend of $1.38 per share. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, June 24th. FedEx’s dividend payout ratio is 32.04%.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research analyst reports. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Raymond James lowered their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley raised their price objective on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Finally, Evercore ISI decreased their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $314.00.

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.