FedEx Co. (NYSE:FDX) Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lessened its position in shares of FedEx Co. (NYSE:FDX) by 30.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 455 shares of the shipping service provider’s stock after selling 201 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in FedEx were worth $125,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Capital International Investors grew its holdings in 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 acquiring an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 acquiring an additional 1,056,061 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in FedEx during the 2nd quarter worth approximately $46,475,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FDX shares. Bank of America cut their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Stephens reiterated an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. TD Cowen cut their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group cut their target price on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

Shares of FDX opened at $265.92 on Wednesday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The stock’s 50 day moving average is $280.37 and its two-hundred day moving average is $275.07. The firm has a market capitalization of $65.44 billion, a PE ratio of 15.43, a P/E/G ratio of 1.06 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the firm posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Transactions at FedEx

In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.73% of the company’s stock.

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.