Pensioenfonds Rail & OV Trims Position in FedEx Co. (NYSE:FDX)

Pensioenfonds Rail & OV trimmed its position in shares of FedEx Co. (NYSE:FDX) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,326 shares of the shipping service provider’s stock after selling 25,874 shares during the quarter. FedEx accounts for 3.0% of Pensioenfonds Rail & OV’s portfolio, making the stock its 7th largest position. Pensioenfonds Rail & OV owned approximately 0.06% of FedEx worth $41,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Investment Management Inc. increased its holdings in FedEx by 1.4% during the first quarter. Thompson Investment Management Inc. now owns 19,378 shares of the shipping service provider’s stock worth $5,614,000 after buying an additional 276 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of FedEx by 1.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 6,326 shares of the shipping service provider’s stock worth $1,833,000 after acquiring an additional 100 shares in the last quarter. Riverview Trust Co bought a new position in shares of FedEx in the 1st quarter valued at $214,000. Jacobs & Co. CA lifted its position in shares of FedEx by 1.2% during the 1st quarter. Jacobs & Co. CA now owns 45,913 shares of the shipping service provider’s stock worth $13,303,000 after buying an additional 547 shares during the last quarter. Finally, CGN Advisors LLC boosted its stake in FedEx by 8.8% in the first quarter. CGN Advisors LLC now owns 7,580 shares of the shipping service provider’s stock valued at $2,196,000 after buying an additional 610 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 15.5 %

Shares of FDX stock traded up $39.81 on Wednesday, hitting $296.19. The stock had a trading volume of 11,091,675 shares, compared to its average volume of 1,910,597. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $296.86. The business has a 50 day moving average of $256.13 and a 200 day moving average of $255.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market cap of $72.89 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping the consensus estimate of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a return on equity of 16.86% and a net margin of 4.94%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.94 EPS. As a group, analysts expect that FedEx Co. will post 20.26 EPS for the current year.

FedEx declared that its board has initiated a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. FedEx’s dividend payout ratio is currently 32.04%.

Insider Activity

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the sale, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders sold 127,774 shares of company stock worth $35,194,126 in the last three months. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FDX. BNP Paribas reaffirmed an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Morgan Stanley raised their price target on shares of FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America upped their price objective on shares of FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $310.88.

About FedEx

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.