Truvestments Capital LLC Sells 68 Shares of FedEx Co. (NYSE:FDX)

Truvestments Capital LLC cut its position in FedEx Co. (NYSE:FDX) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,994 shares of the shipping service provider’s stock after selling 68 shares during the period. Truvestments Capital LLC’s holdings in FedEx were worth $561,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. United Bank acquired a new position in shares of FedEx during the third quarter valued at about $615,000. Sigma Planning Corp increased its holdings in shares of FedEx by 1.8% during the third quarter. Sigma Planning Corp now owns 5,053 shares of the shipping service provider’s stock valued at $1,383,000 after acquiring an additional 90 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of FedEx during the third quarter valued at about $102,000. Apollon Wealth Management LLC increased its holdings in shares of FedEx by 12.8% during the third quarter. Apollon Wealth Management LLC now owns 3,861 shares of the shipping service provider’s stock valued at $1,057,000 after acquiring an additional 437 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of FedEx by 1.5% during the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after acquiring an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on FDX shares. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets upped their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Bank of America upped their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and dropped their target price for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $318.58.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Up 0.3 %

FDX stock opened at $243.66 on Thursday. The company has a fifty day moving average price of $264.35 and a 200 day moving average price of $275.13. FedEx Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The company has a market cap of $58.69 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.99 EPS. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.27%. FedEx’s payout ratio is currently 35.18%.

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.