OFI Invest Asset Management Grows Stock Position in FedEx Co. (NYSE:FDX)

OFI Invest Asset Management increased its position in shares of FedEx Co. (NYSE:FDX) by 685.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,461 shares of the shipping service provider’s stock after purchasing an additional 1,275 shares during the quarter. OFI Invest Asset Management’s holdings in FedEx were worth $409,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors boosted its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Sentry LLC purchased a new stake in FedEx during the 4th quarter worth about $1,811,748,000. Putnam Investments LLC raised its holdings in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares in the last quarter. Finally, Norges Bank purchased a new position in FedEx in the fourth quarter worth approximately $700,291,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FDX. UBS Group reduced their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Bank of America upped their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com raised FedEx from a “buy” rating to a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 target price (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Price Performance

FDX stock traded up $1.22 during trading on Friday, reaching $285.40. 1,318,335 shares of the company were exchanged, compared to its average volume of 1,867,482. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock’s 50 day moving average price is $284.45 and its 200 day moving average price is $266.53. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The company has a market cap of $70.23 billion, a P/E ratio of 16.56, a PEG ratio of 1.08 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the previous year, the company earned $4.94 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last three months. Corporate insiders own 8.73% of the company’s stock.

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.