FedEx Co. (NYSE:FDX) Shares Sold by Whitener Capital Management Inc.

Whitener Capital Management Inc. lowered its position in FedEx Co. (NYSE:FDX) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,550 shares of the shipping service provider’s stock after selling 540 shares during the period. Whitener Capital Management Inc.’s holdings in FedEx were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in FedEx by 22.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock valued at $17,637,000 after purchasing an additional 19,349 shares during the period. Heritage Investors Management Corp lifted its position in shares of FedEx by 4.3% during the 2nd quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock valued at $12,610,000 after acquiring an additional 3,189 shares during the period. First Dallas Securities Inc. lifted its position in shares of FedEx by 7.4% during the 1st quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock valued at $1,113,000 after acquiring an additional 425 shares during the period. Tredje AP fonden lifted its position in shares of FedEx by 23.7% during the 1st quarter. Tredje AP fonden now owns 19,898 shares of the shipping service provider’s stock valued at $3,623,000 after acquiring an additional 3,817 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in shares of FedEx by 26.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 47,501 shares of the shipping service provider’s stock valued at $8,617,000 after acquiring an additional 9,997 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

A number of equities research analysts have recently issued reports on FDX shares. Bank of America reduced their price target on shares of FedEx from $188.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Cowen reiterated an “outperform” rating and set a $228.00 price target (down from $230.00) on shares of FedEx in a research report on Thursday, June 20th. UBS Group set a $136.00 price target on shares of FedEx and gave the company a “sell” rating in a research report on Wednesday, June 26th. KeyCorp reduced their price target on shares of FedEx from $215.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Finally, Credit Suisse Group reduced their price target on shares of FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $191.63.

Shares of FDX traded up $3.18 during mid-day trading on Friday, reaching $156.00. 1,536,200 shares of the company’s stock were exchanged, compared to its average volume of 2,020,749. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $164.88 and a two-hundred day simple moving average of $173.86. FedEx Co. has a 52-week low of $150.68 and a 52-week high of $259.25. The company has a market cap of $40.44 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.84 and a beta of 1.65.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.67%. FedEx’s payout ratio is currently 16.75%.

In other FedEx news, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction that occurred on 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 sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction that occurred on 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 sale, 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. 8.50% of the stock is currently owned by insiders.

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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