Boston Partners Has $591.49 Million Stake in FedEx Corporation $FDX

Key Points

• Boston Partners increased its FedEx stake by 2.9% in the fourth quarter, bringing its holdings to 2,041,209 shares valued at about $591.5 million. Institutional investors now own roughly 84.47% of FedEx.
• FedEx reported stronger-than-expected quarterly results, posting $5.25 EPS versus the $4.12 consensus estimate and revenue of $24 billion, up 8.3% year over year. Analysts currently see the company as a Moderate Buy with a consensus price target of $371.45.
• The company also declared a quarterly dividend of $1.22 per share, payable July 7, though it appears the dividend rate was reduced. At the same time, several executives and directors sold shares, including EVP Gina F. Adams and Director Susan C. Schwab.

Boston Partners lifted its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,041,209 shares of the shipping service provider's stock after purchasing an additional 57,281 shares during the period. Boston Partners owned approximately 0.87% of FedEx worth $591,494,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ulland Investment Advisors LLC bought a new position in FedEx in the fourth quarter valued at approximately $29,000. Tucker Asset Management LLC bought a new position in shares of FedEx in the 4th quarter valued at about $29,000. ORG Partners LLC lifted its position in shares of FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock valued at $30,000 after buying an additional 35 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $31,000. Finally, Intesa Sanpaolo Wealth Management acquired a new stake in shares of FedEx during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insiders Place Their Bets

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 5,795 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company's stock.

FedEx Trading Down 0.1%

Shares of FedEx stock opened at $337.65 on Friday. The company has a 50 day simple moving average of $371.84 and a two-hundred day simple moving average of $342.64. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $342.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market cap of $80.57 billion, a PE ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.51 EPS. Analysts expect that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.4%. FedEx's dividend payout ratio (DPR) is presently 30.87%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FDX. Citigroup began coverage on shares of FedEx in a research report on Thursday, May 21st. They set a "buy" rating and a $443.00 target price on the stock. TD Cowen raised their price objective on FedEx from $383.00 to $426.00 and gave the company a "buy" rating in a report on Friday, March 20th. HSBC reduced their target price on shares of FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. Rothschild & Co Redburn lowered their target price on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Finally, Bank of America dropped their price target on FedEx from $440.00 to $376.00 and set a "buy" rating on the stock in a research note on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $371.45.

About FedEx

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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

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.