FedEx Co. (NYSE:FDX) Stock Holdings Reduced by Holderness Investments Co.

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Vanguard Group Inc. increased its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the last quarter. Capital International Investors increased its stake in shares of FedEx by 32.5% during the 1st 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 last quarter. Putnam Investments LLC raised its holdings in shares of FedEx by 38.1% during the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after purchasing an additional 121,240 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the subject of several recent analyst reports. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday. Evercore ISI decreased their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $215.00 to $200.00 in a research report on Friday. Stifel Nicolaus decreased their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday. Finally, Wells Fargo & Company lifted their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

Insiders Place Their Bets

In other news, EVP Robert B. Carter sold 16,010 shares of the firm’s 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 sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

FedEx Stock Down 15.2 %

Shares of NYSE FDX opened at $254.64 on Friday. The business has a fifty day moving average of $292.43 and a two-hundred day moving average of $275.04. 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 Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The stock has a market cap of $62.66 billion, a PE ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm 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%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

FedEx 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.