Mesirow Financial Investment Management Inc. Cuts Stake in FedEx Corporation $FDX

Key Points

• Mesirow Financial Investment Management trimmed its FedEx stake by 4.1% in the fourth quarter, selling 5,381 shares and leaving it with 125,161 shares valued at about $36.2 million.
• FedEx recently beat expectations in its latest quarterly earnings report, posting $5.25 EPS on $24 billion in revenue, both above analyst estimates, while revenue rose 8.3% year over year.
• The company also announced a quarterly dividend of $1.45 per share and disclosed notable insider selling, including transactions by Director Susan C. Schwab and EVP Tracy B. Brightman.

Mesirow Financial Investment Management Inc. decreased its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,161 shares of the shipping service provider's stock after selling 5,381 shares during the period. FedEx makes up approximately 0.7% of Mesirow Financial Investment Management Inc.'s investment portfolio, making the stock its 29th biggest position. Mesirow Financial Investment Management Inc. owned 0.05% of FedEx worth $36,154,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of FedEx by 11.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider's stock valued at $8,243,000 after purchasing an additional 3,514 shares in the last quarter. Savant Capital LLC grew its position in shares of FedEx by 32.5% during the third quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider's stock valued at $9,437,000 after purchasing an additional 9,806 shares in the last quarter. National Pension Service grew its position in shares of FedEx by 3.9% during the third quarter. National Pension Service now owns 633,376 shares of the shipping service provider's stock valued at $149,356,000 after purchasing an additional 23,563 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of FedEx during the third quarter valued at about $171,960,000. Finally, Applied Finance Capital Management LLC purchased a new position in shares of FedEx during the third quarter valued at about $727,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 1.8%

Shares of NYSE:FDX opened at $369.50 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. The company has a 50-day moving average price of $369.26 and a 200 day moving average price of $326.86. The company has a market cap of $88.17 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.43 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating analysts' consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter last year, the firm earned $4.51 EPS. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, March 9th. FedEx's dividend payout ratio is 30.87%.

Insider Activity

In related news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company's stock, valued at $3,704,022. This represents a 36.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FDX shares. Stephens restated an "overweight" rating and set a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. Evercore raised their price objective on FedEx from $364.00 to $380.00 in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $479.00 price objective on shares of FedEx in a research report on Friday, February 13th. Barclays restated a "buy" rating on shares of FedEx in a research report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of FedEx from $364.00 to $369.00 and gave the company a "buy" rating in a report on Friday, March 13th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and a consensus price target of $398.04.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx’s board approved the spin-off of its FedEx Freight unit, a move that should sharpen the company’s focus on its higher-margin package and air network businesses and could unlock value for shareholders. FedEx Board of Directors Approves Spin-off of FedEx Freight
• Positive Sentiment: The company set the distribution ratio for the freight spinoff at one FedEx Freight share for every two FedEx shares held, and the new Freight entity is expected to begin trading on June 1, giving investors clearer visibility into the transaction timeline. FedEx sets one-for-two share ratio for freight unit spinoff
• Neutral Sentiment: FedEx management said Amazon’s new logistics offering is not a major threat to its business, suggesting the company believes its network and services remain differentiated. FedEx Boss Dismisses Threat From New Amazon Logistics Service
• Neutral Sentiment: Analysts at JPMorgan kept a neutral view on FDX, while Barclays reportedly reiterated a buy rating, indicating Wall Street remains mixed but generally constructive on the stock after the restructuring news. FedEx NYSE: FDX Receives "Neutral" Rating from JPMorgan Chase & Co.
• Negative Sentiment: The stock was also described as sliding in the latest session, reflecting some profit-taking or caution even as the broader market rose. FedEx (FDX) Stock Slides as Market Rises: Facts to Know Before You Trade

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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