6,120 FedEx Corporation $FDX Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of FedEx Corporation (NYSE:FDX) by 18.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,049 shares of the shipping service provider’s stock after acquiring an additional 6,120 shares during the period. ProShare Advisors LLC’s holdings in FedEx were worth $11,418,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in FedEx in the second quarter valued at approximately $6,508,103,000. Primecap Management Co. CA purchased a new position in FedEx during the second quarter worth approximately $2,554,138,000. Bank of America Corp DE purchased a new position in FedEx during the second quarter worth approximately $579,171,000. Bank of New York Mellon Corp purchased a new position in FedEx during the second quarter worth approximately $466,943,000. Finally, Legal & General Group Plc acquired a new position in shares of FedEx in the 2nd quarter valued at $448,121,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Evercore boosted their price objective on shares of FedEx from $350.00 to $351.00 in a research note on Monday, September 28th. Sanford C. Bernstein set a $377.00 target price on FedEx in a research report on Monday, October 26th. Weiss Ratings cut FedEx from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 29th. HSBC raised FedEx from a “hold” rating to a “buy” rating and set a $370.00 price target for the company in a research report on Thursday, October 29th. Finally, Bank of America dropped their price target on FedEx from $378.00 to $359.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $359.16.

FedEx Trading Down 0.1%

NYSE FDX opened at $318.03 on Wednesday. The firm has a market capitalization of $74.48 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.33. FedEx Corporation has a one year low of $200.20 and a one year high of $345.36. The company’s 50 day moving average price is $303.85 and its 200 day moving average price is $337.21.

FedEx (NYSE:FDX) last released its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The company had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. During the same period in the previous year, the firm earned $3.83 earnings per share. FedEx’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio is currently 30.01%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 26,611 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the transaction, the executive vice president owned 12,245 shares in the company, valued at $3,877,746.60. The trade was a 68.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gina F. Adams sold 3,014 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the sale, the executive vice president directly owned 9,656 shares of the company’s stock, valued at $3,061,531.36. The trade was a 23.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by corporate insiders.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.