FedEx Co. (NYSE:FDX) Shares Sold by Toroso Investments LLC

Toroso Investments LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 78.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,462 shares of the shipping service provider’s stock after selling 16,138 shares during the period. Toroso Investments LLC’s holdings in FedEx were worth $1,020,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lakewood Asset Management LLC acquired a new position in shares of FedEx in the 4th quarter valued at $26,000. Guardian Wealth Advisors LLC acquired a new position in shares of FedEx in the first quarter worth about $26,000. GW&K Investment Management LLC purchased a new stake in shares of FedEx during the 1st quarter worth about $27,000. Horan Securities Inc. grew its position in shares of FedEx by 85.7% during the 1st quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Finally, Sound Income Strategies LLC increased its stake in shares of FedEx by 1,957.1% in the 1st quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 137 shares in the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FedEx stock opened at $249.33 on Tuesday. The firm has a market capitalization of $62.71 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.23 and a beta of 1.36. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. FedEx Co. has a 52 week low of $141.92 and a 52 week high of $270.95. The firm’s 50 day moving average is $261.00 and its two-hundred day moving average is $238.32.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, topping the consensus estimate of $4.85 by $0.09. The firm had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.55 billion. FedEx had a net margin of 4.41% and a return on equity of 15.32%. FedEx’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the business earned $6.87 EPS. Research analysts forecast that FedEx Co. will post 17.37 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $1.26 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.02%. FedEx’s dividend payout ratio (DPR) is presently 32.52%.

Insider Buying and Selling

In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of FedEx stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the transaction, the executive vice president now directly owns 22,478 shares in the company, valued at $5,886,538.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Michael C. Lenz sold 5,745 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the completion of the transaction, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at $5,886,538.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now owns 58,875 shares in the company, valued at $14,483,250. The disclosure for this sale can be found here. Insiders have sold 35,816 shares of company stock worth $8,822,147 in the last quarter. 8.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FDX has been the subject of several research analyst reports. UBS Group upped their target price on FedEx from $272.00 to $312.00 in a research note on Friday, September 1st. StockNews.com started coverage on shares of FedEx in a report on Thursday, August 17th. They set a “buy” rating on the stock. Stephens reissued an “overweight” rating and set a $290.00 target price on shares of FedEx in a research note on Friday, August 11th. Loop Capital decreased their price target on shares of FedEx from $263.00 to $255.00 in a research note on Thursday, June 22nd. Finally, Wells Fargo & Company boosted their price objective on FedEx from $240.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 12th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $254.30.

FedEx Company 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.