Stevens Capital Management LP Sells 8,836 Shares of FedEx Co. (NYSE:FDX)

Stevens Capital Management LP lowered its stake in FedEx Co. (NYSE:FDX) by 83.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,794 shares of the shipping service provider’s stock after selling 8,836 shares during the period. Stevens Capital Management LP’s holdings in FedEx were worth $454,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in FedEx by 0.3% in the third quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after acquiring an additional 59,161 shares in the last quarter. Sentry LLC bought a new stake in FedEx in the fourth quarter valued at $1,811,748,000. FMR LLC boosted its holdings in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Morgan Stanley boosted its holdings in FedEx by 1.1% in the third quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock valued at $857,860,000 after acquiring an additional 35,085 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in FedEx by 13.6% in the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after acquiring an additional 360,680 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of FDX stock traded down $0.55 on Thursday, hitting $265.52. 876,084 shares of the stock traded hands, compared to its average volume of 2,041,564. The firm has a market cap of $65.34 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.28 and a beta of 1.21. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The firm has a 50 day simple moving average of $261.03 and a two-hundred day simple moving average of $254.36. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $3.41 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx announced that its board has approved a stock repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. FedEx’s payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FDX shares. BNP Paribas restated an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. The Goldman Sachs Group boosted their target price on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Evercore ISI boosted their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Finally, TD Cowen boosted their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $301.33.

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.