FedEx Co. (NYSE:FDX) Position Lowered by Holderness Investments Co.

Holderness Investments Co. reduced its position in FedEx Co. (NYSE:FDX) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,692 shares of the shipping service provider’s stock after selling 68 shares during the quarter. Holderness Investments Co.’s holdings in FedEx were worth $2,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC increased its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in FedEx in the fourth quarter worth $25,000. Central Valley Advisors LLC bought a new stake in FedEx during the second quarter valued at $39,000. Security National Bank acquired a new stake in shares of FedEx during the fourth quarter worth $44,000. Finally, Abound Wealth Management lifted its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Friday. Argus increased their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company upped their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Stephens reiterated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Trading Down 15.2 %

Shares of FDX stock opened at $254.64 on Friday. The stock has a 50-day simple moving average of $292.43 and a 200 day simple moving average of $275.04. The stock has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the business posted $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

Insider Buying and Selling

In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’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 transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 in the last three months. 8.73% of the stock is currently owned by insiders.

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.