Xponance Inc. Has $12.25 Million Holdings in FedEx Co. (NYSE:FDX)

Xponance Inc. cut its holdings in FedEx Co. (NYSE:FDX) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,857 shares of the shipping service provider’s stock after selling 839 shares during the period. Xponance Inc.’s holdings in FedEx were worth $12,251,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC raised its stake in 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 period. Scarborough Advisors LLC purchased a new position in shares of FedEx during the 4th quarter valued at about $25,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter worth approximately $39,000. Security National Bank purchased a new position in shares of FedEx during the fourth quarter worth approximately $44,000. Finally, Abound Wealth Management increased its stake in 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 purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $258.82 on Tuesday. The company has a market capitalization of $63.69 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company’s fifty day moving average price is $291.50 and its 200-day moving average price is $275.28. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS 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 company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the company earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.13%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Activity

In related news, Director Paul S. Walsh sold 2,535 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com downgraded FedEx from a “buy” rating to a “hold” rating in a report on Friday. Bernstein Bank increased their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets dropped their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.74.

About FedEx

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.