Townsquare Capital LLC Decreases Stake in FedEx Corporation (NYSE:FDX)

Townsquare Capital LLC decreased its position in FedEx Corporation (NYSE:FDX) by 7.0% in the first quarter, HoldingsChannel.com reports. The fund owned 2,075 shares of the shipping service provider’s stock after selling 156 shares during the period. Townsquare Capital LLC’s holdings in FedEx were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ACR Alpine Capital Research LLC lifted its holdings in shares of FedEx by 85.9% during the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider’s stock worth $386,399,000 after purchasing an additional 732,266 shares during the period. GAMMA Investing LLC raised its position in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider’s stock valued at $133,003,000 after acquiring an additional 542,605 shares in the last quarter. Capital Research Global Investors acquired a new position in FedEx in the fourth quarter valued at approximately $145,733,000. Worldquant Millennium Advisors LLC boosted its position in FedEx by 276.1% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 433,789 shares of the shipping service provider’s stock worth $122,038,000 after purchasing an additional 318,448 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of FedEx during the 4th quarter worth approximately $86,960,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 1.6%

FDX stock opened at $227.32 on Friday. The company has a market cap of $53.62 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.18 and a beta of 1.30. The firm has a 50-day moving average of $229.41 and a two-hundred day moving average of $231.79. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter last year, the business posted $5.41 earnings per share. As a group, analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be issued a $1.45 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.6%. FedEx’s dividend payout ratio is currently 34.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FDX shares. UBS Group decreased their target price on shares of FedEx from $311.00 to $297.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. TD Cowen cut their price objective on shares of FedEx from $310.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Cowen reissued a “buy” rating on shares of FedEx in a research note on Wednesday, June 25th. Susquehanna raised their target price on FedEx from $290.00 to $295.00 and gave the company a “positive” rating in a research report on Wednesday, June 25th. Finally, Bank of America reduced their price target on FedEx from $270.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.25.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 3,610 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marvin R. Ellison sold 3,610 shares of the business’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is owned by company 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.