Transamerica Financial Advisors LLC Buys New Shares in FedEx Corporation $FDX

Transamerica Financial Advisors LLC purchased a new position in FedEx Corporation (NYSE:FDX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 1,613 shares of the shipping service provider’s stock, valued at approximately $506,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. BlackRock Inc. purchased a new position in shares of FedEx during the 2nd quarter worth about $6,508,103,000. State Street Corp grew its holdings in FedEx by 4.2% in the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after purchasing an additional 382,848 shares during the period. Primecap Management Co. CA acquired a new position in FedEx during the second quarter worth approximately $2,554,138,000. Franklin Resources Inc. raised its stake in FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after purchasing an additional 318,293 shares during the period. Finally, Geode Capital Management LLC raised its stake in FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after purchasing an additional 45,818 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a report on Monday, June 1st. TD Cowen cut their price objective on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Bank of America lifted their price objective on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Rothschild & Co Redburn dropped their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus cut their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.54.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

FedEx Stock Up 0.8%

NYSE FDX opened at $336.52 on Thursday. The business has a 50 day moving average price of $319.13 and a two-hundred day moving average price of $351.11. The stock has a market cap of $79.64 billion, a PE ratio of 18.18, a P/E/G ratio of 1.72 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion for the quarter. As a group, sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio is currently 26.36%.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.