IMS Capital Management Decreases Stake in FedEx Co. (NYSE:FDX)

IMS Capital Management reduced its position in FedEx Co. (NYSE:FDX) by 34.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,118 shares of the shipping service provider’s stock after selling 588 shares during the period. IMS Capital Management’s holdings in FedEx were worth $324,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Parsons Capital Management Inc. RI grew its stake in shares of FedEx by 11.7% during the fourth quarter. Parsons Capital Management Inc. RI now owns 2,059 shares of the shipping service provider’s stock valued at $521,000 after buying an additional 216 shares during the last quarter. FAS Wealth Partners Inc. bought a new position in shares of FedEx during the fourth quarter valued at approximately $216,000. Stonegate Investment Group LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $235,000. Coastline Trust Co grew its stake in FedEx by 84.3% in the fourth quarter. Coastline Trust Co now owns 3,548 shares of the shipping service provider’s stock worth $898,000 after purchasing an additional 1,623 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in FedEx by 6.0% in the fourth quarter. DAVENPORT & Co LLC now owns 62,650 shares of the shipping service provider’s stock worth $15,849,000 after purchasing an additional 3,556 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $296.00 to $359.00 in a research note on Wednesday, June 26th. TD Cowen increased their price objective on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. UBS Group dropped their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Argus increased their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley upped their target price on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.00.

FedEx Price Performance

FDX stock traded down $5.53 during trading on Friday, hitting $292.30. The stock had a trading volume of 2,252,729 shares, compared to its average volume of 1,523,840. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a market capitalization of $71.93 billion, a P/E ratio of 16.96, a PEG ratio of 1.08 and a beta of 1.18. The company’s 50-day moving average price is $277.79 and its two-hundred day moving average price is $264.18.

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 the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period in the previous year, the firm posted $4.94 EPS. FedEx’s revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. This is a positive change 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 32.04%.

Insiders Place Their Bets

In other FedEx 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 transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 in the last ninety days. 8.73% of the stock is currently owned by corporate insiders.

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.