Royal London Asset Management Ltd. Acquires 1,255 Shares of FedEx Co. (NYSE:FDX)

Royal London Asset Management Ltd. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 1.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,827 shares of the shipping service provider’s stock after purchasing an additional 1,255 shares during the quarter. Royal London Asset Management Ltd.’s holdings in FedEx were worth $26,934,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter valued at $25,000. Private Wealth Management Group LLC acquired a new stake in FedEx during the 4th quarter valued at $28,000. Sachetta LLC acquired a new stake in FedEx during the 4th quarter valued at $32,000. Finally, Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at $39,000. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly 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 SEC, which is available through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold a total of 32,944 shares of company stock valued at $9,882,355 over the last ninety days. 8.73% of the stock is owned by company insiders.

FedEx Stock Performance

Shares of FDX stock opened at $284.86 on Thursday. The business’s 50-day moving average price is $293.47 and its 200-day moving average price is $272.95. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm has a market capitalization of $70.10 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm posted $4.94 earnings per share. Equities research analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 dividend yield of 1.94%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FDX. Argus raised their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Morgan Stanley raised their price target on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Raymond James cut their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Stephens reissued an “overweight” rating and set a $325.00 target price on shares of FedEx in a report on Wednesday, June 26th. Finally, Evercore ISI dropped their target price on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

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.