Voya Investment Management LLC Lowers Position in FedEx Co. (NYSE:FDX)

Voya Investment Management LLC lowered its holdings in FedEx Co. (NYSE:FDX - Free Report) by 40.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 367,486 shares of the shipping service provider's stock after selling 245,906 shares during the quarter. Voya Investment Management LLC owned 0.15% of FedEx worth $103,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Family Office LLC increased its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the period. Transce3nd LLC purchased a new position in FedEx in the fourth quarter valued at $26,000. Peoples Financial Services CORP. acquired a new position in FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new stake in FedEx during the 4th quarter worth about $28,000. Finally, Kentucky Trust Co acquired a new stake in FedEx in the 4th quarter valued at about $28,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on FDX. BMO Capital Markets dropped their price objective on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and cut their price target for the company from $300.00 to $275.00 in a research note on Monday, March 24th. BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Raymond James cut their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Cfra Research raised FedEx to a "hold" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.71.

FedEx Price Performance

FDX stock traded down $3.02 on Wednesday, reaching $206.83. The company had a trading volume of 317,283 shares, compared to its average volume of 1,776,043. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company's fifty day moving average is $231.19 and its 200 day moving average is $261.06. The company has a market cap of $49.56 billion, a P/E ratio of 13.18, a PEG ratio of 1.11 and a beta of 1.24. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the business earned $3.86 EPS. The firm's revenue was up 1.9% on a year-over-year basis. On average, research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.