Vinva Investment Management Ltd Reduces Position in FedEx Co. (NYSE:FDX)

Vinva Investment Management Ltd trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 49.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,121 shares of the shipping service provider’s stock after selling 4,912 shares during the quarter. Vinva Investment Management Ltd’s holdings in FedEx were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FDX. Geode Capital Management LLC boosted its stake in shares of FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares in the last quarter. Franklin Resources Inc. boosted its position in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after acquiring an additional 11,100 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of FedEx by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after acquiring an additional 49,160 shares during the last quarter. Finally, Sentry LLC raised its holdings in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after acquiring an additional 5,404 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 0.5 %

Shares of FDX opened at $246.00 on Friday. The company has a market capitalization of $59.25 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a one year low of $228.37 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a 50-day moving average price of $260.76 and a 200 day moving average price of $273.11.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 EPS. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity at FedEx

In other news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on FDX shares. JPMorgan Chase & Co. dropped their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Stephens dropped their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $317.48.

About FedEx

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.