FedEx Co. (NYSE:FDX) Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL cut its stake in shares of FedEx Co. (NYSE:FDX) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,540 shares of the shipping service provider’s stock after selling 400 shares during the quarter. FedEx accounts for approximately 1.6% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 23rd biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in FedEx were worth $4,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors lifted its position in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Sentry LLC acquired a new position in FedEx during the 4th quarter worth approximately $307,007,000. Vanguard Group Inc. raised its stake in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Putnam Investments LLC raised its position in FedEx by 38.1% in the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after acquiring an additional 798,084 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Insiders sold a total of 12,914 shares of company stock valued at $3,978,338 in the last 90 days. 8.73% of the stock is currently owned by insiders.

FedEx Stock Performance

Shares of FDX opened at $269.56 on Wednesday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company’s 50 day simple moving average is $286.76 and its 200 day simple moving average is $275.91. The company has a market capitalization of $66.33 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.55 EPS. On average, sell-side analysts predict that FedEx Co. will post 19.66 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.05%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Stifel Nicolaus lowered their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. UBS Group lowered their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.74.

About FedEx

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.