ING Groep NV Sells 17,903 Shares of FedEx Corporation $FDX

ING Groep NV decreased its position in FedEx Corporation (NYSE:FDX) by 40.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,246 shares of the shipping service provider’s stock after selling 17,903 shares during the quarter. ING Groep NV’s holdings in FedEx were worth $7,581,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. OneAscent Financial Services LLC raised its position in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after purchasing an additional 29 shares during the period. LRI Investments LLC raised its position in shares of FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock valued at $183,000 after purchasing an additional 31 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in shares of FedEx by 11.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock valued at $84,000 after purchasing an additional 31 shares during the period. Legacy Bridge LLC raised its position in shares of FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock valued at $38,000 after purchasing an additional 33 shares during the period. Finally, True Wealth Design LLC raised its position in shares of FedEx by 8.2% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider’s stock valued at $133,000 after purchasing an additional 35 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director owned 10,038 shares in the company, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is owned by company insiders.

FedEx Stock Down 0.3%

Shares of NYSE:FDX opened at $329.96 on Tuesday. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $341.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The company’s fifty day moving average is $373.31 and its 200-day moving average is $341.31. The company has a market capitalization of $78.73 billion, a PE ratio of 17.56, a P/E/G ratio of 1.51 and a beta of 1.28.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.51 EPS. Equities research analysts predict that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s payout ratio is currently 30.87%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Seaport Research Partners initiated coverage on shares of FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their target price for the company from $432.00 to $460.00 in a research note on Wednesday, May 27th. Finally, UBS Group initiated coverage on shares of FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating and a $445.00 target price for the company. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $372.41.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.