Interval Partners LP Cuts Position in FedEx Co. (NYSE:FDX)

Interval Partners LP trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 80.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,591 shares of the shipping service provider’s stock after selling 155,454 shares during the quarter. Interval Partners LP’s holdings in FedEx were worth $10,892,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FDX. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FedEx in the fourth quarter worth about $25,000. Private Wealth Management Group LLC bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of FedEx during the 4th quarter worth approximately $30,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of FedEx in the 4th quarter worth approximately $31,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last quarter. 8.73% of the stock is owned by insiders.

FedEx Price Performance

FedEx stock traded up $1.45 during mid-day trading on Tuesday, hitting $300.68. 1,038,507 shares of the company traded hands, compared to its average volume of 1,901,674. The stock has a fifty day moving average price of $273.96 and a 200-day moving average price of $262.86. The stock has a market cap of $73.46 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.94 EPS. On average, equities analysts predict that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Argus increased their price objective on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Evercore ISI decreased their price objective on FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a report on Monday, June 24th. TD Cowen upped their price objective on shares of FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Robert W. Baird boosted their price target on shares of FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.00.

FedEx Company 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.