PGGM Investments Has $1.84 Million Holdings in FedEx Co. (NYSE:FDX)

PGGM Investments grew its position in shares of FedEx Co. (NYSE:FDX) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,290 shares of the shipping service provider’s stock after buying an additional 524 shares during the quarter. PGGM Investments’ holdings in FedEx were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. lifted its holdings in shares of FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of FedEx during the 4th quarter valued at about $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx during the 4th quarter valued at about $31,000. Planned Solutions Inc. acquired a new stake in shares of FedEx during the 4th quarter valued at about $32,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of NYSE FDX opened at $265.84 on Monday. The business has a fifty day simple moving average of $262.17 and a 200 day simple moving average of $254.48. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $65.42 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21. FedEx Co. has a one year low of $213.80 and a one year high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the company posted $3.41 earnings per share. FedEx’s revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.69 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.90%. FedEx’s dividend payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has approved a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FDX shares. BMO Capital Markets lifted their price target on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. BNP Paribas restated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Finally, Barclays boosted their target price on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.33.

Insiders Place Their Bets

In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the sale, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now owns 486 shares in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 over the last three months. 8.73% of the stock is currently owned by corporate insiders.

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.