9,933 FedEx Corporation $FDX Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc lowered its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,390 shares of the shipping service provider's stock after selling 9,933 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in FedEx were worth $29,190,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp raised its position in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock valued at $6,169,000 after purchasing an additional 8,868 shares in the last quarter. First Nebraska Trust Co bought a new stake in FedEx during the first quarter worth $10,675,000. NewEdge Advisors LLC boosted its holdings in shares of FedEx by 74.1% in the 2nd 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 acquired a new stake in shares of FedEx in the 2nd quarter valued at $1,147,000. Finally, Tidal Investments LLC boosted its holdings in shares of FedEx by 9.8% in the 2nd 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 own 84.47% of the company's stock.

Insider Activity

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

FedEx Stock Up 3.4%

Shares of NYSE:FDX opened at $318.72 on Tuesday. FedEx Corporation has a 52-week low of $202.95 and a 52-week high of $345.36. The company has a market capitalization of $74.64 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.33. The company has a fifty day moving average of $302.64 and a 200-day moving average of $337.42.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.40. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The company had revenue of $22.93 billion for the quarter, compared to the consensus estimate of $22.73 billion. During the same quarter last year, the business posted $3.83 EPS. FedEx's revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts predict that FedEx Corporation will post 18.29 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, September 14th. FedEx's payout ratio is 30.01%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent analyst reports. HSBC upgraded FedEx from a "hold" rating to a "buy" rating and set a $370.00 price target on the stock in a research note on Thursday, October 29th. Bank of America dropped their price objective on FedEx from $378.00 to $359.00 and set a "buy" rating for the company in a research report on Tuesday, October 27th. Sanford C. Bernstein set a $377.00 price objective on 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. Finally, Weiss Ratings cut FedEx from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $359.16.

FedEx Company Profile

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution.

Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

FedEx is headquartered in Memphis, Tennessee.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.