FedEx Co. (NYSE:FDX) Shares Sold by Bokf Na

Bokf Na cut its holdings in shares of FedEx Co. (NYSE:FDX) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,651 shares of the shipping service provider’s stock after selling 1,157 shares during the quarter. Bokf Na’s holdings in FedEx were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of FedEx in the fourth quarter worth approximately $700,291,000. Capital International Investors raised its stake in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Sentry LLC acquired a new position in shares of FedEx in the 4th quarter valued at $307,007,000. Vanguard Group Inc. grew its stake 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 valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Finally, Putnam Investments LLC increased its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the 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 in the company, valued at approximately $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 over the last ninety days. 8.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on FedEx from $339.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday. Bank of America lifted their price objective on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Cowen initiated coverage on shares of FedEx in a report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target on the stock. Robert W. Baird reiterated an “outperform” rating and set a $340.00 price objective on shares of FedEx in a research note on Friday. Finally, Argus increased 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.67.

FedEx Price Performance

Shares of FDX stock opened at $286.38 on Friday. The firm has a fifty day moving average of $293.17 and a two-hundred day moving average of $273.36. The firm has a market cap of $70.47 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a 1-year low of $224.69 and a 1-year 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.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the firm earned $4.94 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 20.82 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. Investors of record on Monday, September 9th will be given 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 is currently 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.