FedEx Corporation $FDX Stock Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in shares of FedEx Corporation (NYSE:FDX) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,049 shares of the shipping service provider’s stock after purchasing an additional 6,120 shares during the quarter. ProShare Advisors LLC’s holdings in FedEx were worth $11,418,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FDX. OMERS ADMINISTRATION Corp increased its holdings in FedEx by 104.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after acquiring an additional 8,868 shares in the last quarter. First Nebraska Trust Co acquired a new position in FedEx during the first quarter worth about $10,675,000. NewEdge Advisors LLC lifted its holdings in shares of FedEx by 74.1% in the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock valued at $10,757,000 after purchasing an additional 14,624 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of FedEx in the second quarter valued at about $1,147,000. Finally, Tidal Investments LLC lifted its holdings in shares of FedEx by 9.8% in the second quarter. Tidal Investments LLC now owns 48,662 shares of the shipping service provider’s stock valued at $15,238,000 after purchasing an additional 4,340 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on FDX shares. Sanford C. Bernstein set a $377.00 price objective on shares of FedEx in a research note on Monday, October 26th. Wall Street Zen upgraded FedEx to a “hold” rating in a research report on Saturday, August 8th. HSBC raised FedEx from a “hold” rating to a “buy” rating and set a $370.00 target price on the stock in a research note on Thursday, October 29th. Stephens upgraded FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings downgraded FedEx from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $359.16.

Insider Buying and Selling

In other FedEx news, EVP Gina Adams sold 3,014 shares of FedEx stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the sale, the executive vice president directly owned 9,656 shares of the company’s stock, valued at approximately $3,061,531.36. The trade was a 23.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy Brightman sold 26,611 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $316.68, for a total value of $8,427,171.48. Following the completion of the transaction, the executive vice president owned 12,245 shares of the company’s stock, valued at $3,877,746.60. This trade represents a 68.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by company insiders.

FedEx Price Performance

NYSE:FDX opened at $318.03 on Wednesday. The firm has a market cap of $74.48 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average is $303.85 and its two-hundred day moving average is $337.21. FedEx Corporation has a 12-month low of $200.20 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last released its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.40. The company had revenue of $22.93 billion for the quarter, compared to analysts’ expectations of $22.73 billion. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $3.83 EPS. Research analysts expect that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were given a dividend of $1.22 per share. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 30.01%.

About FedEx

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.