Huber Capital Management LLC lessened its holdings in shares of FedEx Corporation (NYSE:FDX – Free Report) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 83,167 shares of the shipping service provider’s stock after selling 3,900 shares during the period. FedEx makes up about 3.5% of Huber Capital Management LLC’s holdings, making the stock its 7th biggest position. Huber Capital Management LLC’s holdings in FedEx were worth $24,024,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Ulland Investment Advisors LLC acquired a new stake in shares of FedEx during the fourth quarter worth about $29,000. Tucker Asset Management LLC purchased a new stake in shares of FedEx during the fourth quarter worth approximately $29,000. Wilkerson Advisory Group LLC purchased a new position in FedEx in the fourth quarter worth approximately $29,000. ORG Partners LLC grew its holdings in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new position in FedEx during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
FedEx Stock Performance
Shares of FedEx stock opened at $337.65 on Friday. The firm has a market capitalization of $80.57 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.54 and a beta of 1.28. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $342.81. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $371.84 and its two-hundred day moving average is $342.64.
FedEx Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio is currently 30.87%.
Analysts Set New Price Targets
Several research analysts have commented on FDX shares. Zacks Research cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. UBS Group started coverage on shares of FedEx in a report on Wednesday, May 27th. They set a “buy” rating and a $445.00 price target for the company. Wall Street Zen upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. BNP Paribas Exane lowered their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Finally, Bank of America lowered their price target on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $371.45.
Check Out Our Latest Stock Analysis on FedEx
Insider Activity at FedEx
In other FedEx news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.
FedEx Profile
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
See Also
- Five stocks we like better than FedEx
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX – Free Report).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.
