Huber Capital Management LLC Sells 5,300 Shares of FedEx Co. (NYSE:FDX)

Huber Capital Management LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,362 shares of the shipping service provider’s stock after selling 5,300 shares during the quarter. FedEx accounts for about 2.0% of Huber Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Huber Capital Management LLC’s holdings in FedEx were worth $8,804,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FDX. Vanguard Group Inc. raised its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Capital International Investors lifted its position in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Putnam Investments LLC lifted its position in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after purchasing an additional 798,084 shares during the period. Mawer Investment Management Ltd. boosted its stake in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after buying an additional 684,679 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock opened at $254.63 on Friday. The firm has a fifty day moving average of $292.43 and a two-hundred day moving average of $274.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.55 EPS. As a group, equities research analysts predict that FedEx Co. will post 20.82 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on FDX shares. Robert W. Baird decreased their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday. Susquehanna dropped their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday. Argus boosted their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $312.84.

FedEx Company Profile

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.