AMI Investment Management Inc. Reduces Stock Position in FedEx Co. (NYSE:FDX)

AMI Investment Management Inc. decreased its position in shares of FedEx Co. (NYSE:FDX) by 6.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,775 shares of the shipping service provider’s stock after selling 946 shares during the period. FedEx makes up 1.4% of AMI Investment Management Inc.’s holdings, making the stock its 22nd largest holding. AMI Investment Management Inc.’s holdings in FedEx were worth $4,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of FDX. Duncan Williams Asset Management LLC increased its holdings in FedEx by 187.3% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 4,264 shares of the shipping service provider’s stock valued at $1,167,000 after acquiring an additional 2,780 shares in the last quarter. Alpha Omega Wealth Management LLC raised its position in shares of FedEx by 11.1% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 997 shares of the shipping service provider’s stock worth $273,000 after purchasing an additional 100 shares during the last quarter. Czech National Bank lifted its stake in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Cascade Investment Advisors Inc. grew its holdings in FedEx by 8.2% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 7,501 shares of the shipping service provider’s stock valued at $2,053,000 after buying an additional 567 shares during the last quarter. Finally, Trust Co. of Toledo NA OH increased its position in FedEx by 71.9% during the third quarter. Trust Co. of Toledo NA OH now owns 2,104 shares of the shipping service provider’s stock worth $576,000 after buying an additional 880 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,914 shares of company stock valued at $3,978,338. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company upped their price objective on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.74.

FedEx Stock Down 0.5 %

Shares of NYSE:FDX traded down $1.44 during midday trading on Friday, hitting $260.64. 1,637,336 shares of the company’s stock traded hands, compared to its average volume of 1,881,833. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market cap of $64.14 billion, a PE ratio of 15.13, a P/E/G ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm’s fifty day moving average price is $285.40 and its two-hundred day moving average price is $275.75.

FedEx (NYSE:FDX) last issued its earnings results 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). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $4.55 EPS. On average, equities research analysts anticipate that FedEx Co. will post 19.66 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.12%. FedEx’s 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.