Securian Asset Management Inc. Sells 4,481 Shares of FedEx Corporation $FDX

Key Points

• Securian Asset Management cut its FedEx stake by 43.2% in the fourth quarter, selling 4,481 shares and leaving it with 5,903 shares valued at about $1.7 million.
• FedEx insiders also sold stock, including Director Susan C. Schwab and EVP Tracy B. Brightman, with insiders selling 48,104 shares over the last 90 days worth $17.6 million.
• Wall Street remains mostly constructive on FedEx, with 18 Buy ratings and an average “Moderate Buy” rating; the stock recently traded near $378.54 after a strong quarter that beat earnings and revenue expectations.

Securian Asset Management Inc. reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 43.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,903 shares of the shipping service provider's stock after selling 4,481 shares during the quarter. Securian Asset Management Inc.'s holdings in FedEx were worth $1,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FDX. Grey Fox Wealth Advisors LLC purchased a new position in FedEx in the 3rd quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the 3rd quarter worth approximately $28,000. Ameriflex Group Inc. raised its holdings in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock worth $29,000 after acquiring an additional 63 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in FedEx in the 4th quarter worth approximately $29,000. Finally, ORG Partners LLC raised its holdings in FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after acquiring an additional 35 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Susan C. Schwab sold 5,795 shares of the company's stock in a transaction on 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 completion of the transaction, the director owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 11,052 shares of the company's stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FDX shares. Zacks Research lowered shares of FedEx from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 18th. JPMorgan Chase & Co. restated a "neutral" rating on shares of FedEx in a report on Thursday, April 9th. TD Cowen boosted their price objective on shares of FedEx from $383.00 to $426.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Rothschild & Co Redburn boosted their price objective on shares of FedEx from $317.00 to $371.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Finally, Susquehanna boosted their price objective on shares of FedEx from $410.00 to $455.00 and gave the stock a "positive" rating in a report on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $398.04.

FedEx Trading Down 0.0%

Shares of FedEx stock opened at $378.54 on Tuesday. The company has a market capitalization of $90.32 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.44 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The company has a fifty day moving average of $369.82 and a 200 day moving average of $324.97. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.51 EPS. On average, sell-side analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 annualized dividend and a yield of 1.5%. FedEx's dividend payout ratio is currently 30.87%.

FedEx Company Profile

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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