FedEx Corporation $FDX Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,399 shares of the shipping service provider’s stock after selling 1,685 shares during the quarter. Applied Finance Capital Management LLC’s holdings in FedEx were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in FDX. Ulland Investment Advisors LLC bought a new stake in FedEx in the fourth quarter valued at $29,000. ORG Partners LLC lifted its stake in FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after buying an additional 35 shares during the last quarter. Camelot Portfolios LLC bought a new stake in FedEx in the fourth quarter valued at $31,000. Grey Fox Wealth Advisors LLC bought a new stake in FedEx in the third quarter valued at $27,000. Finally, Wealth Watch Advisors INC bought a new stake in FedEx in the third quarter valued at $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $375.99 on Friday. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03. The firm’s 50-day simple moving average is $369.04 and its 200 day simple moving average is $328.17. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The stock has a market cap of $89.71 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.42 and a beta of 1.29.

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

Insider Activity at FedEx

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% 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. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was 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 approximately $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,104 shares of company stock valued at $17,599,006 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FDX. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of FedEx in a research note on Tuesday, May 12th. Wells Fargo & Company raised their target price on FedEx from $430.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. HSBC upgraded FedEx from a “reduce” rating to a “hold” rating and set a $360.00 target price on the stock in a research note on Friday, March 20th. Rothschild & Co Redburn raised their target price on FedEx from $317.00 to $371.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Zacks Research cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $398.04.

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.