Parametric Portfolio Associates LLC Grows Position in FedEx Co. (FDX)

Parametric Portfolio Associates LLC increased its holdings in FedEx Co. (NYSE:FDX) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 711,657 shares of the shipping service provider’s stock after purchasing an additional 41,956 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.27% of FedEx worth $160,536,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FDX. Harbour Capital Advisors LLC boosted its stake in FedEx by 21,011.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after acquiring an additional 1,418,066 shares during the last quarter. Davis Selected Advisers boosted its position in shares of FedEx by 265.4% during the second quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after purchasing an additional 1,223,646 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of FedEx by 381.6% during the second quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after purchasing an additional 699,728 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of FedEx by 28.7% during the second quarter. Jackson Square Partners LLC now owns 2,905,839 shares of the shipping service provider’s stock worth $631,525,000 after purchasing an additional 647,401 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in shares of FedEx during the second quarter worth $138,993,000. 75.60% of the stock is owned by hedge funds and other institutional investors.

FedEx Co. (NYSE:FDX) opened at $250.02 on Monday. The firm has a market cap of $67,040.00, a PE ratio of 22.98, a PEG ratio of 1.52 and a beta of 1.36. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $255.11. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.57.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 EPS. research analysts predict that FedEx Co. will post 12.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is 18.38%.

In related news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold a total of 34,064 shares of company stock valued at $7,820,036 in the last ninety days. 8.45% of the stock is currently owned by insiders.

A number of equities analysts have recently weighed in on the stock. Cowen reissued an “outperform” rating and set a $240.00 price target on shares of FedEx in a research report on Friday, October 13th. Oppenheimer reissued a “buy” rating and set a $265.00 price target (up from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. Citigroup restated a “buy” rating and set a $235.00 price objective on shares of FedEx in a report on Thursday, September 14th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Bank of America restated a “buy” rating and set a $240.00 price objective on shares of FedEx in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $253.12.

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FedEx Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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