FedEx Corporation $FDX Shares Sold by ACR Alpine Capital Research LLC

Key Points

• ACR Alpine Capital Research cut its FedEx stake by 23.4%, selling 260,395 shares in the third quarter. It still held 851,944 shares, worth about $242.9 million at quarter-end.
• FedEx reported quarterly EPS of $3.74, beating the $3.34 consensus, while revenue of $22.93 billion also topped estimates and rose 12.3% year over year.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $359.16. FedEx’s quarterly dividend was $1.22 per share, equivalent to an annualized yield of about 1.5% at the reported share price.

ACR Alpine Capital Research LLC decreased its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 23.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 851,944 shares of the shipping service provider's stock after selling 260,395 shares during the period. FedEx accounts for approximately 3.3% of ACR Alpine Capital Research LLC's portfolio, making the stock its 14th largest holding. ACR Alpine Capital Research LLC owned approximately 0.36% of FedEx worth $242,881,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in FedEx in the 1st quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in FedEx in the 3rd quarter valued at $25,000. Solstein Capital LLC purchased a new position in shares of FedEx during the 2nd quarter worth $27,000. Pathway Financial Advisers LLC purchased a new position in shares of FedEx during the 3rd quarter worth $27,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of FedEx by 3,233.3% during the third quarter. Trifecta Capital Advisors LLC now owns 100 shares of the shipping service provider's stock worth $29,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Trading Down 4.0%

Shares of FDX opened at $316.14 on Friday. FedEx Corporation has a twelve month low of $202.95 and a twelve month high of $345.36. The firm has a market capitalization of $74.04 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock's fifty day simple moving average is $303.36 and its 200 day simple moving average is $337.33.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.40. The firm had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.83 earnings per share. On average, equities research analysts forecast that FedEx Corporation will post 18.29 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a dividend of $1.22 per share. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's payout ratio is presently 30.01%.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. Raymond James Financial set a $162.00 price objective on FedEx in a research report on Tuesday. Citizens Jmp started coverage on FedEx in a research report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 target price on the stock. Bank of America reduced their target price on FedEx from $378.00 to $359.00 and set a "buy" rating on the stock in a research report on Tuesday, October 27th. Sanford C. Bernstein set a $377.00 price target on FedEx in a research note on Monday, October 26th. Finally, JPMorgan Chase & Co. lifted their price target on FedEx from $399.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $359.16.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx is partnering with the U.S. Army to improve logistics and delivery at depots, arsenals and ammunition plants. The agreement could create business opportunities, though financial terms and expected revenue were not reported. US Army enlists FedEx to modernize logistics at depots
• Positive Sentiment: FedEx participated as a strategic investor in Harbinger’s $240 million funding round. Harbinger is developing electric trucks and other vehicle platforms, potentially supporting FedEx’s access to emerging fleet technologies; the size of FedEx’s investment was not disclosed. Harbinger raises $240M to expand EV platform beyond trucks
• Positive Sentiment: Jim Cramer expressed a favorable view of FedEx, describing a recovery from its lows. This may bolster investor sentiment, though it is an opinion rather than a change in the company’s outlook. Jim Cramer Recommends FedEx
• Neutral Sentiment: A report says Citigroup expects strong price appreciation for FDX, but the available article details do not provide its rating or price target. Citigroup Forecasts Strong Price Appreciation for FedEx
• Negative Sentiment: EVP Gina Adams sold 3,014 shares, reducing her holdings by about 24%. Insider sales can weigh on sentiment, although the report does not give a reason for the transaction. FedEx Stock: Insider Gina Adams Sells 3,014 Shares

Insider Transactions at FedEx

In related news, EVP Gina F. Adams sold 3,014 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the transaction, the executive vice president owned 9,656 shares in the company, valued at approximately $3,061,531.36. This trade represents a 23.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 26,611 shares of FedEx stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the transaction, the executive vice president directly owned 12,245 shares in the company, valued at approximately $3,877,746.60. This trade represents a 68.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.65% of the stock is currently owned by insiders.

FedEx Company Profile

FedEx Corporation NYSE: FDX 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, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company's services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.

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