TCW Group Inc. Acquires 8,109 Shares of FedEx Co. (NYSE:FDX)

TCW Group Inc. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 79.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,356 shares of the shipping service provider’s stock after purchasing an additional 8,109 shares during the quarter. TCW Group Inc.’s holdings in FedEx were worth $5,504,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms have commented on FDX. 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 report on Wednesday, June 26th. Argus raised their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Stifel Nicolaus restated a “buy” rating and issued a $327.00 price target (up from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

Insider Buying and Selling

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last quarter. 8.73% of the stock is currently owned by company insiders.

FedEx Trading Up 0.4 %

Shares of FDX traded up $1.22 during mid-day trading on Friday, reaching $285.40. 1,318,335 shares of the company’s stock traded hands, compared to its average volume of 1,867,482. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market cap of $70.23 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.08 and a beta of 1.18. The stock’s 50-day moving average is $284.45 and its two-hundred day moving average is $266.53.

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

FedEx Dividend Announcement

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

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.