Public Sector Pension Investment Board Buys 2,013 Shares of FedEx Corporation $FDX

Key Points

• The Public Sector Pension Investment Board increased its stake in FedEx Corporation by 7.4% during the first quarter, bringing its total holdings to 29,235 shares valued at approximately $7.13 million.
• FedEx announced a quarterly dividend of $1.45 per share, representing an annualized dividend of $5.80 with a yield of 2.6%, set to be paid to investors on October 1st.
• In recent insider trading, Director R. Brad Martin and Director Paul S. Walsh sold a total of 5,733 shares of FedEx stock, indicating a significant reduction in their ownership, with sales totaling over $1.37 million.

Public Sector Pension Investment Board boosted its position in FedEx Corporation (NYSE:FDX - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,235 shares of the shipping service provider's stock after acquiring an additional 2,013 shares during the quarter. Public Sector Pension Investment Board's holdings in FedEx were worth $7,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $26,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $35,000. Abound Financial LLC purchased a new stake in shares of FedEx during the first quarter worth about $38,000. Optiver Holding B.V. purchased a new stake in shares of FedEx during the fourth quarter worth about $39,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of FedEx during the fourth quarter worth about $43,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

FDX stock traded up $0.41 on Monday, hitting $227.67. The company had a trading volume of 930,220 shares, compared to its average volume of 1,992,353. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock's 50-day simple moving average is $229.41 and its 200 day simple moving average is $231.53. The stock has a market cap of $53.71 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.18 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter last year, the company posted $5.41 earnings per share. As a group, equities research analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's dividend payout ratio (DPR) is currently 34.36%.

Analyst Ratings Changes

A number of analysts have recently weighed in on FDX shares. Sanford C. Bernstein dropped their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a report on Friday, June 13th. Stephens reissued an "overweight" rating and issued a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target for the company in a research note on Thursday, July 3rd. Cowen reissued a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Finally, Truist Financial reissued a "buy" rating and issued a $275.00 price target on shares of FedEx in a research note on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average target price of $283.13.

Insider Transactions at FedEx

In related news, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the transaction, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last 90 days. 8.87% of the stock is currently owned by insiders.

FedEx Company 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.