The Manufacturers Life Insurance Company Sells 1,678 Shares of FedEx Co. (NYSE:FDX)

The Manufacturers Life Insurance Company lessened its stake in FedEx Co. (NYSE:FDX) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 138,073 shares of the shipping service provider’s stock after selling 1,678 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of FedEx worth $41,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Capital International Investors raised its holdings in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Sentry LLC bought a new stake in FedEx during the 4th quarter valued at $307,007,000. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 1,056,061 shares during the period. Putnam Investments LLC raised its holdings in FedEx by 38.1% during 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. Finally, Mawer Investment Management Ltd. raised its holdings in FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders sold a total of 14,399 shares of company stock valued at $4,420,615 over the last three months. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $267.55 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $65.84 billion, a PE ratio of 15.53, a P/E/G ratio of 1.04 and a beta of 1.17. The firm has a fifty day simple moving average of $288.06 and a two-hundred day simple moving average of $275.67. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $4.55 earnings per share. Research analysts expect that FedEx Co. will post 19.66 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared 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 yield of 2.06%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Analysts Set New Price Targets

FDX has been the subject of a number of recent analyst reports. Bank of America reduced their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Loop Capital reduced their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. Finally, UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.74.

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.