FedEx Corporation $FDX Stock Sold by Horrell Capital Management Inc.

Key Points

• Horrell Capital Management cut its FedEx position by 52.1% in the third quarter, selling 21,020 shares and retaining 19,306 shares valued at approximately $5.5 million. Institutional investors overall own 84.47% of FedEx.
• Analysts maintain a generally positive view, with FedEx carrying a consensus “Moderate Buy” rating and an average price target of $354.64, although several firms recently lowered their targets.
• FedEx shares rose 0.9% to $291.62, while the company reported quarterly revenue of $23.26 billion and earnings of $5.88 per share. Its quarterly dividend is $1.22 per share, equivalent to a 1.7% annual yield.

Horrell Capital Management Inc. trimmed its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 52.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,306 shares of the shipping service provider's stock after selling 21,020 shares during the period. FedEx comprises 2.9% of Horrell Capital Management Inc.'s holdings, making the stock its 10th biggest holding. Horrell Capital Management Inc.'s holdings in FedEx were worth $5,504,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. OMERS ADMINISTRATION Corp lifted its position in shares of FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock worth $6,169,000 after purchasing an additional 8,868 shares during the last quarter. First Nebraska Trust Co bought a new position in shares of FedEx in the first quarter worth about $10,675,000. NewEdge Advisors LLC grew its holdings in shares of FedEx by 74.1% in the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider's stock worth $10,757,000 after purchasing an additional 14,624 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in FedEx by 48.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 63,855 shares of the shipping service provider's stock worth $18,445,000 after buying an additional 20,940 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in FedEx by 39.5% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 12,926 shares of the shipping service provider's stock valued at $3,734,000 after buying an additional 3,661 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FDX. Wall Street Zen raised shares of FedEx to a "hold" rating in a research report on Saturday, August 8th. UBS Group dropped their price objective on FedEx from $445.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Citigroup restated a "cautious" rating on shares of FedEx in a report on Wednesday. TD Cowen decreased their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, Stifel Nicolaus dropped their price target on FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $354.64.

FedEx Stock Up 0.9%

NYSE FDX traded up $2.58 during midday trading on Thursday, hitting $291.62. 1,292,220 shares of the company traded hands, compared to its average volume of 2,051,327. FedEx Corporation has a 52 week low of $179.69 and a 52 week high of $345.36. The company's 50-day simple moving average is $311.87 and its 200-day simple moving average is $336.60. The company has a market cap of $69.02 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion during the quarter. As a group, equities research analysts forecast that FedEx Corporation will post 17.55 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. FedEx's payout ratio is presently 26.36%.

FedEx Company 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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