Sumitomo Mitsui Trust Holdings Inc. Acquires 5,847 Shares of FedEx Co. (FDX)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,054,500 shares of the shipping service provider’s stock after acquiring an additional 5,847 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in FedEx were worth $191,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. HC Financial Advisors Inc. increased its position in FedEx by 5.9% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock worth $2,007,000 after purchasing an additional 464 shares during the last quarter. Vanguard Group Inc increased its position in FedEx by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after purchasing an additional 96,084 shares during the last quarter. BB&T Corp increased its position in FedEx by 8.9% in the 4th quarter. BB&T Corp now owns 13,896 shares of the shipping service provider’s stock worth $2,242,000 after purchasing an additional 1,130 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in FedEx in the 4th quarter worth about $210,000. Finally, Dowling & Yahnke LLC increased its position in FedEx by 2.4% in the 4th quarter. Dowling & Yahnke LLC now owns 16,543 shares of the shipping service provider’s stock worth $3,788,000 after purchasing an additional 385 shares during the last quarter. 70.48% of the stock is currently owned by institutional investors and hedge funds.

FDX opened at $159.93 on Friday. The stock has a market cap of $41.67 billion, a PE ratio of 10.45, a P/E/G ratio of 0.85 and a beta of 1.62. FedEx Co. has a 52-week low of $150.94 and a 52-week high of $266.67. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The business had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the company earned $3.72 EPS. FedEx’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Co. will post 15.44 earnings per share for the current year.

In related news, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the sale, the chief executive officer now owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total value of $4,679,100.00. Following the sale, the executive vice president now owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,650 shares of company stock valued at $34,751,470. 8.50% of the stock is owned by corporate insiders.

Several research analysts have weighed in on FDX shares. Berenberg Bank lowered FedEx from a “buy” rating to a “hold” rating and dropped their target price for the stock from $245.00 to $200.00 in a research report on Monday, April 1st. UBS Group lowered FedEx from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $171.00 to $161.00 in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered FedEx from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $227.00 to $202.00 in a research report on Wednesday, March 20th. Credit Suisse Group upped their target price on FedEx from $236.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Cowen reaffirmed an “outperform” rating and issued a $237.00 target price (down from $242.00) on shares of FedEx in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $212.33.

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FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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