Homrich & Berg Cuts Position in FedEx Co. (NYSE:FDX)

Homrich & Berg cut its stake in FedEx Co. (NYSE:FDX) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,667 shares of the shipping service provider’s stock after selling 174 shares during the period. Homrich & Berg’s holdings in FedEx were worth $930,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FDX. Artisan Partners Limited Partnership grew its position in FedEx by 40.7% in the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after acquiring an additional 792,575 shares in the last quarter. Nordea Investment Management AB lifted its stake in FedEx by 63.5% in the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock worth $280,985,000 after purchasing an additional 601,465 shares during the last quarter. LSV Asset Management lifted its stake in FedEx by 39.7% in the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock worth $360,441,000 after purchasing an additional 564,452 shares during the last quarter. Packer & Co Ltd lifted its stake in FedEx by 269.9% in the second quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock worth $29,289,000 after purchasing an additional 481,416 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in FedEx by 21.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after purchasing an additional 418,451 shares during the last quarter. Institutional investors own 71.79% of the company’s stock.

Several research firms have weighed in on FDX. Deutsche Bank reissued a “buy” rating on shares of FedEx in a research note on Wednesday, June 26th. TheStreet downgraded shares of FedEx from a “b-” rating to a “c+” rating in a research note on Thursday, June 6th. Cowen reissued an “outperform” rating and issued a $228.00 price target (down from $230.00) on shares of FedEx in a research note on Thursday, June 20th. Citigroup lowered their price target on shares of FedEx from $192.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of FedEx from $184.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $191.63.

Shares of NYSE:FDX traded down $1.59 during midday trading on Thursday, hitting $156.59. 194,283 shares of the stock traded hands, compared to its average volume of 1,971,365. The stock has a market capitalization of $41.25 billion, a PE ratio of 10.09, a P/E/G ratio of 0.86 and a beta of 1.65. The business’s 50 day moving average is $164.25 and its two-hundred day moving average is $173.38. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. FedEx Co. has a one year low of $150.68 and a one year high of $259.25.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating the consensus estimate of $4.93 by $0.08. The firm had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.91 earnings per share. As a group, sell-side analysts forecast that FedEx Co. will post 14.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, September 6th. FedEx’s dividend payout ratio (DPR) is 16.75%.

In related news, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now directly owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the transaction, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. Corporate insiders own 8.44% of the company’s stock.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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