Chevy Chase Trust Holdings LLC Sells 3,753 Shares of FedEx Co. (NYSE:FDX)

Chevy Chase Trust Holdings LLC reduced its position in FedEx Co. (NYSE:FDX) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,179 shares of the shipping service provider’s stock after selling 3,753 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of FedEx worth $37,534,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Capital International Investors lifted its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC bought a new stake in FedEx during the fourth quarter valued at approximately $1,811,748,000. Putnam Investments LLC lifted its position in FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Finally, Norges Bank bought a new stake in FedEx during the fourth quarter valued at approximately $700,291,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FDX shares. Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Stephens reiterated an “overweight” rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. TD Cowen lifted their price target on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Bank of America lifted their price target on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

Insider Buying and Selling

In related news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock worth $9,882,355 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Trading Up 0.7 %

FedEx stock traded up $1.96 during mid-day trading on Wednesday, reaching $290.40. 230,304 shares of the company traded hands, compared to its average volume of 1,842,790. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The firm’s 50 day moving average price is $285.87 and its 200 day moving average price is $267.36. The firm has a market capitalization of $71.46 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.08 and a beta of 1.18. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.94% and a return on equity of 16.70%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.94 EPS. On average, analysts anticipate that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is 32.04%.

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.