Howard Capital Management LLC Sells 4,953 Shares of FedEx Corporation $FDX

Key Points

• Howard Capital Management cut its FedEx stake by 77.7% in the third quarter, selling 4,953 shares and retaining 1,422 shares valued at approximately $405,000.
• Institutional investors and hedge funds own 84.47% of FedEx, with several other firms increasing or initiating positions during the first and second quarters.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue and maintains a quarterly dividend of $1.22 per share. Analysts hold a consensus “Moderate Buy” rating with an average price target of $354.64.

Howard Capital Management LLC lessened its stake in FedEx Corporation (NYSE:FDX - Free Report) by 77.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,422 shares of the shipping service provider's stock after selling 4,953 shares during the period. Howard Capital Management LLC's holdings in FedEx were worth $405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp grew its stake in FedEx by 104.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock valued at $6,169,000 after acquiring an additional 8,868 shares during the period. First Nebraska Trust Co bought a new stake in shares of FedEx during the first quarter valued at approximately $10,675,000. NewEdge Advisors LLC raised its position in shares of FedEx by 74.1% during 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 period. Louisiana State Employees Retirement System acquired a new position in shares of FedEx during the first quarter worth approximately $3,918,000. Finally, Archer Investment Corp acquired a new position in shares of FedEx during the second quarter worth approximately $1,147,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX opened at $293.51 on Friday. The firm has a market capitalization of $69.47 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.57 and a beta of 1.28. FedEx Corporation has a 52 week low of $187.62 and a 52 week high of $345.36. The stock has a 50 day moving average price of $309.44 and a two-hundred day moving average price of $334.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

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. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities analysts forecast that FedEx Corporation will post 18.27 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on FDX shares. Bank of America reissued a "buy" rating and issued a $140.00 price target on shares of FedEx in a research report on Tuesday, September 29th. Raymond James Financial restated an "outperform" rating on shares of FedEx in a research note on Thursday. Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a report on Wednesday, June 24th. Truist Financial dropped their price objective on shares of FedEx from $365.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group began coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price objective on the stock. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.64.

About FedEx

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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.