20,507 FedEx Corporation $FDX Shares Sold by Artemis Investment Management LLP

Key Points

• Artemis Investment Management LLP reduced its FedEx stake by 32.1% in the third quarter, selling 20,507 shares and retaining 43,342 shares valued at approximately $12.36 million.
• Institutional investors own 84.47% of FedEx, while several smaller investment firms initiated or increased positions during the year.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue and pays a quarterly dividend of $1.22 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $354.64.

Artemis Investment Management LLP cut its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 32.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,342 shares of the shipping service provider's stock after selling 20,507 shares during the period. Artemis Investment Management LLP's holdings in FedEx were worth $12,356,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of FedEx in the first quarter worth about $25,000. Bayban bought a new stake in FedEx during the 1st quarter valued at approximately $26,000. Solstein Capital LLC bought a new stake in FedEx during the 2nd quarter valued at approximately $27,000. C M Bidwell & Associates Ltd. purchased a new position in FedEx in the 2nd quarter worth approximately $31,000. Finally, Cedar Mountain Advisors LLC boosted its stake in FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock worth $33,000 after purchasing an additional 41 shares during the period. Institutional investors own 84.47% of the company's stock.

FedEx Price Performance

FDX stock opened at $291.62 on Friday. FedEx Corporation has a 52 week low of $179.69 and a 52 week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $311.87 and a two-hundred day simple moving average of $336.60. The firm has a market capitalization of $69.02 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Analysts anticipate that FedEx Corporation will post 17.52 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx's dividend payout ratio is presently 26.36%.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent analyst reports. Weiss Ratings cut shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 2nd. Wall Street Zen raised shares of FedEx to a "hold" rating in a research note on Saturday, August 8th. Stephens upgraded shares of FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. TD Cowen decreased their price target on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Finally, BNP Paribas Exane increased their price objective on shares of FedEx from $269.80 to $300.00 and gave the company a "neutral" rating in a report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and a consensus target price of $354.64.

FedEx Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company's services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.

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