FedEx Corporation $FDX Position Decreased by Jacobs & Co. CA

Key Points

• Jacobs & Co. CA cut its FedEx stake by 55.2% in the second quarter, selling 22,911 shares and retaining 18,614 shares valued at approximately $5.83 million. Institutional investors collectively own 84.47% of FedEx.
• Analysts maintain a generally positive view, with FedEx holding a consensus “Moderate Buy” rating and an average price target of $350.54, despite several recent target reductions.
• FedEx reported quarterly revenue of $23.26 billion and earnings per share of $5.88. Shares opened at $318.64, while director Paul S. Walsh sold 5,042 shares and insiders own 0.53% of the company.

Jacobs & Co. CA lowered its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 55.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,614 shares of the shipping service provider's stock after selling 22,911 shares during the period. Jacobs & Co. CA's holdings in FedEx were worth $5,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Brighton Jones LLC lifted its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx during the second quarter worth $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx during the second quarter worth $186,000. Finally, Jump Financial LLC purchased a new stake in shares of FedEx during the second quarter valued at $456,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group decreased their price target on FedEx from $405.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Jefferies Financial Group initiated coverage on shares of FedEx in a research note on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. BMO Capital Markets reissued a "market perform" rating on shares of FedEx in a research report on Wednesday, June 24th. Finally, HSBC cut their price target on shares of FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $350.54.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

FedEx Trading Up 0.9%

Shares of NYSE:FDX opened at $318.64 on Friday. The firm has a fifty day moving average of $319.48 and a two-hundred day moving average of $350.25. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12-month low of $176.00 and a 12-month high of $345.36. The firm has a market capitalization of $75.39 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. On average, equities analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio (DPR) is presently 26.36%.

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.

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