Violich Capital Management Inc. Has $607,000 Stock Position in FedEx Corporation $FDX

Violich Capital Management Inc. decreased its position in shares of FedEx Corporation (NYSE:FDX) by 53.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,100 shares of the shipping service provider’s stock after selling 2,458 shares during the period. Violich Capital Management Inc.’s holdings in FedEx were worth $607,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New York State Teachers Retirement System boosted its position in FedEx by 2.3% during the third quarter. New York State Teachers Retirement System now owns 207,077 shares of the shipping service provider’s stock valued at $48,831,000 after purchasing an additional 4,734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in FedEx by 11.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock valued at $8,243,000 after purchasing an additional 3,514 shares during the last quarter. Savant Capital LLC boosted its position in FedEx by 32.5% during the third quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock valued at $9,437,000 after purchasing an additional 9,806 shares during the last quarter. National Pension Service boosted its position in FedEx by 3.9% during the third quarter. National Pension Service now owns 633,376 shares of the shipping service provider’s stock valued at $149,356,000 after purchasing an additional 23,563 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new stake in FedEx during the third quarter valued at $171,960,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the transaction, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 over the last quarter. 0.53% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $375.50 on Friday. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03. The business has a 50-day moving average of $370.10 and a two-hundred day moving average of $323.04. The stock has a market capitalization of $89.60 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.43 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, March 9th. FedEx’s payout ratio is currently 30.87%.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Susquehanna boosted their price target on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research report on Friday, March 20th. Argus boosted their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Wells Fargo & Company boosted their price target on FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of FedEx in a research report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.04.

FedEx Company Profile

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.