FedEx Corporation (NYSE:FDX) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in FedEx Corporation by 54.4%, selling over 14,000 shares during the first quarter and now holding 11,778 shares valued at approximately $2.87 million.
• FedEx recently increased its quarterly dividend from $1.38 to $1.45, reflecting a 2.47% yield and a payout ratio of 34.36%.
• Analysts generally remain optimistic about FedEx, with 19 buy ratings and a consensus rating of "Moderate Buy" along with an average target price of $283.25.

Pacer Advisors Inc. lessened its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,778 shares of the shipping service provider's stock after selling 14,060 shares during the quarter. Pacer Advisors Inc.'s holdings in FedEx were worth $2,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Transce3nd LLC purchased a new position in shares of FedEx during the 4th quarter worth $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx in the 4th quarter valued at about $28,000. Accredited Wealth Management LLC purchased a new stake in FedEx in the 4th quarter valued at about $35,000. Abound Financial LLC purchased a new stake in FedEx in the 1st quarter valued at about $38,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Transactions at FedEx

In related news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the transaction, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,343 shares of company stock worth $2,228,816. Insiders own 8.87% of the company's stock.

FedEx Stock Down 0.2%

FedEx stock traded down $0.47 during mid-day trading on Thursday, hitting $223.39. The company had a trading volume of 2,296,210 shares, compared to its average volume of 1,856,720. The stock has a market cap of $52.70 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.17 and a beta of 1.35. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $227.85 and a 200 day moving average of $235.89.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period last year, the firm posted $5.41 earnings per share. On average, sell-side analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. FedEx's payout ratio is 34.36%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. Barclays restated an "overweight" rating and issued a $320.00 price objective (down from $330.00) on shares of FedEx in a report on Wednesday, June 25th. BNP Paribas Exane raised FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price for the company in a research report on Thursday, July 3rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $260.00 target price (down from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Wells Fargo & Company lifted their target price on FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. Finally, Susquehanna lifted their target price on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.