Twin Lakes Capital Management LLC Trims Stock Position in FedEx Co. (NYSE:FDX)

Twin Lakes Capital Management LLC reduced its holdings in FedEx Co. (NYSE:FDX) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,294 shares of the shipping service provider’s stock after selling 154 shares during the quarter. FedEx accounts for about 3.3% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Twin Lakes Capital Management LLC’s holdings in FedEx were worth $5,785,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FDX. Vanguard Group Inc. increased its stake in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors increased its position in shares of FedEx by 32.5% during 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 acquiring an additional 2,163,622 shares in the last quarter. Putnam Investments LLC raised its holdings in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares during the period. Mawer Investment Management Ltd. lifted its position in 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 acquiring an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Guy M. Erwin II sold 116 shares of the stock in a transaction that occurred on 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 $278,293.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Steiner sold 1,369 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total value of $407,564.99. Following the transaction, the director now owns 35,183 shares in the company, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. Insiders sold 14,399 shares of company stock worth $4,420,615 over the last three months. Insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. Susquehanna dropped their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Bernstein Bank boosted their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

FedEx Stock Performance

Shares of NYSE FDX opened at $267.55 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $65.84 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.04 and a beta of 1.17. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The stock has a 50 day moving average of $288.06 and a 200-day moving average of $275.67.

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 analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $4.55 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 19.66 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx’s dividend payout ratio is currently 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.