Fox Run Management L.L.C. Sells 1,358 Shares of FedEx Co. (FDX)

Fox Run Management L.L.C. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 52.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,211 shares of the shipping service provider’s stock after selling 1,358 shares during the quarter. Fox Run Management L.L.C.’s holdings in FedEx were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. raised its position in shares of FedEx by 0.9% in the second quarter. BlackRock Inc. now owns 15,172,550 shares of the shipping service provider’s stock valued at $3,445,080,000 after purchasing an additional 134,397 shares during the period. FMR LLC raised its position in shares of FedEx by 4.5% in the second quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock valued at $1,040,600,000 after purchasing an additional 197,188 shares during the period. Morgan Stanley raised its position in shares of FedEx by 3.7% in the second quarter. Morgan Stanley now owns 1,577,356 shares of the shipping service provider’s stock valued at $358,156,000 after purchasing an additional 56,831 shares during the period. Dimensional Fund Advisors LP raised its position in shares of FedEx by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,481,717 shares of the shipping service provider’s stock valued at $336,439,000 after purchasing an additional 8,792 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of FedEx by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 999,041 shares of the shipping service provider’s stock valued at $226,843,000 after purchasing an additional 23,176 shares during the period. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the sale, the director now owns 32,800 shares in the company, valued at $7,949,080. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

Shares of FedEx stock opened at $221.00 on Friday. The firm has a market capitalization of $63.45 billion, a PE ratio of 14.44, a P/E/G ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a 1 year low of $214.17 and a 1 year high of $274.66.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.78 by ($0.32). The company had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.65 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 17.36 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. FedEx’s payout ratio is 16.98%.

A number of equities analysts have recently commented on FDX shares. Bank of America dropped their price target on shares of FedEx from $310.00 to $304.00 and set a “buy” rating on the stock in a research report on Tuesday, September 18th. Wolfe Research set a $275.00 price target on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Loop Capital lifted their price target on shares of FedEx to $318.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Credit Suisse Group set a $307.00 price target on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $305.00 price target on shares of FedEx in a research report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $285.27.

About FedEx

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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