Pacer Advisors Inc. Reduces Position in FedEx Corporation $FDX

Key Points

• Pacer Advisors cut its FedEx position by 48.9% in the first quarter, selling 10,786 shares and retaining 11,259 shares worth approximately $4.01 million. Institutional investors collectively own 84.47% of FedEx.
• FedEx reported quarterly earnings of $5.88 per share on revenue of $23.26 billion. Shares opened at $316.86, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $350.54.
• Director Paul S. Walsh sold 5,042 shares for approximately $1.64 million, reducing his stake by 23.56%. FedEx’s quarterly dividend is $1.22 per share, equivalent to an annualized yield of about 1.5%.

Pacer Advisors Inc. decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 48.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,259 shares of the shipping service provider's stock after selling 10,786 shares during the period. Pacer Advisors Inc.'s holdings in FedEx were worth $4,010,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of FedEx in the first quarter valued at about $25,000. Bayban purchased a new stake in shares of FedEx during the first quarter worth about $26,000. EFG International AG purchased a new stake in shares of FedEx during the fourth quarter worth about $27,000. Wealth Watch Advisors INC bought a new stake in shares of FedEx in the third quarter worth about $28,000. Finally, Tucker Asset Management LLC bought a new stake in shares of FedEx in the fourth quarter worth about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated 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 completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company's stock.

FedEx Stock Up 2.0%

Shares of NYSE:FDX opened at $316.86 on Friday. The stock has a fifty day simple moving average of $321.35 and a two-hundred day simple moving average of $350.47. The stock has a market capitalization of $74.97 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.60 and a beta of 1.30. FedEx Corporation has a 12-month low of $176.00 and a 12-month high of $345.36. 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 - Get Free Report) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion for the quarter. On average, research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's payout ratio is presently 26.36%.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of FedEx in a research report on Friday, June 26th. Raymond James Financial decreased their target price on FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a report on Wednesday, June 24th. Bank of America raised their price target on FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of FedEx from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 6th. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

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.

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