FedEx Co. (NYSE:FDX) Shares Sold by MUFG Americas Holdings Corp

MUFG Americas Holdings Corp cut its stake in FedEx Co. (NYSE:FDX) by 17.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,313 shares of the shipping service provider’s stock after selling 707 shares during the quarter. MUFG Americas Holdings Corp’s holdings in FedEx were worth $941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of FedEx in the 4th quarter worth $26,000. Vectors Research Management LLC purchased a new position in shares of FedEx during the 4th quarter worth $26,000. RMR Wealth Builders purchased a new position in shares of FedEx during the 4th quarter worth $27,000. Curi Capital purchased a new position in shares of FedEx during the 4th quarter worth $31,000. Finally, Atticus Wealth Management LLC purchased a new position in shares of FedEx during the 4th quarter worth $34,000. 72.74% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Michael C. Lenz sold 4,700 shares of the stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $315.97, for a total value of $1,485,059.00. Following the completion of the transaction, the executive vice president now owns 15,646 shares of the company’s stock, valued at $4,943,666.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John L. Merino sold 10,000 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $273.30, for a total value of $2,733,000.00. The disclosure for this sale can be found here. Insiders sold 180,773 shares of company stock valued at $53,374,869 in the last three months. 8.49% of the stock is currently owned by company insiders.

FDX has been the subject of a number of research analyst reports. Vertical Research initiated coverage on FedEx in a report on Thursday, April 1st. They set a “buy” rating and a $340.00 price target for the company. UBS Group reiterated a “buy” rating and set a $383.00 price target on shares of FedEx in a report on Friday, March 19th. Sanford C. Bernstein set a $324.00 price target on FedEx and gave the stock a “buy” rating in a report on Wednesday, February 24th. Raymond James raised their target price on FedEx from $305.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, March 25th. Finally, Robert W. Baird restated a “buy” rating on shares of FedEx in a report on Sunday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $315.56.

Shares of NYSE FDX opened at $305.64 on Wednesday. FedEx Co. has a 1-year low of $103.40 and a 1-year high of $317.00. The business has a 50-day moving average of $287.40 and a 200-day moving average of $271.36. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.76 and a quick ratio of 1.71. The company has a market capitalization of $81.10 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 1.22 and a beta of 1.30.

FedEx (NYSE:FDX) last issued its earnings results on Wednesday, March 17th. The shipping service provider reported $3.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.21 by $0.26. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The company had revenue of $21.51 billion during the quarter, compared to the consensus estimate of $19.90 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The company’s revenue was up 23.0% compared to the same quarter last year. Research analysts expect that FedEx Co. will post 17.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 8th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, March 5th. FedEx’s dividend payout ratio is currently 27.37%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

Read More: Purposes and Functions of the Federal Reserve

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.