Vestor Capital LLC Lowers Position in FedEx Corporation $FDX

Key Points

• Vestor Capital cut its FedEx stake by 98.9% in the first quarter, selling 14,442 shares and retaining just 155 shares worth approximately $55,000.
• Other institutional investors modestly increased their FedEx holdings, and institutional investors collectively own 84.47% of the company. Director Paul S. Walsh separately sold 5,042 shares for about $1.64 million.
• Analysts maintain a generally positive outlook, with FedEx carrying a “Moderate Buy” consensus rating and an average price target of $350.54, compared with a recent share price of $307.41.

Vestor Capital LLC lowered its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 98.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155 shares of the shipping service provider's stock after selling 14,442 shares during the period. Vestor Capital LLC's holdings in FedEx were worth $55,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. grew its stake in shares of FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock valued at $296,000 after buying an additional 26 shares during the period. OneAscent Financial Services LLC raised its position in shares of FedEx by 1.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock worth $491,000 after buying an additional 29 shares during the period. Whipplewood Advisors LLC raised its position in shares of FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after buying an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in FedEx by 11.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock valued at $101,000 after acquiring an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its position in FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FDX shares. Jefferies Financial Group began coverage on FedEx in a research note on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price target for the company. Sanford C. Bernstein set a $397.00 target price on FedEx in a report on Wednesday, June 24th. Wall Street Zen raised shares of FedEx from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 6th. Stifel Nicolaus cut their price target on shares of FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Finally, Citizens Jmp began coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $350.54.

FedEx Price Performance

Shares of NYSE FDX opened at $307.41 on Friday. 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 Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company has a market capitalization of $72.73 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.58 and a beta of 1.29. The business has a 50-day moving average of $328.67 and a 200-day moving average of $350.16.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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%. On average, equities analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx's dividend payout ratio (DPR) is 26.36%.

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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