Sei Investments Co. Boosts Position in FedEx Corporation $FDX

Sei Investments Co. grew its stake in FedEx Corporation (NYSE:FDX) by 17.2% in the 1st quarter, Holdings Channel reports. The firm owned 141,623 shares of the shipping service provider’s stock after purchasing an additional 20,759 shares during the period. Sei Investments Co.’s holdings in FedEx were worth $50,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in FedEx in the fourth quarter worth about $859,085,000. Boston Partners bought a new stake in FedEx during the 3rd quarter valued at approximately $468,195,000. AQR Capital Management LLC grew its holdings in shares of FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the period. Waddell & Associates LLC grew its holdings in shares of FedEx by 164.0% during the 4th quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock worth $343,206,000 after acquiring an additional 738,122 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of FedEx by 3,211.5% in the 3rd quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider’s stock worth $129,532,000 after acquiring an additional 532,718 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.3%

FedEx stock opened at $314.77 on Friday. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The business’s fifty day simple moving average is $335.98 and its two-hundred day simple moving average is $350.05. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is currently 26.36%.

Insider Activity at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on FDX shares. The Goldman Sachs Group lowered their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Evercore set a $165.00 target price on shares of FedEx in a research report on Friday, June 26th. Wall Street Zen upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Seaport Research Partners began coverage on shares of FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Finally, HSBC dropped their price objective on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.