Sentry LLC Sells 299,401 Shares of FedEx Corporation $FDX

Sentry LLC cut its holdings in FedEx Corporation (NYSE:FDX) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 571,760 shares of the shipping service provider’s stock after selling 299,401 shares during the quarter. FedEx makes up 45.2% of Sentry LLC’s portfolio, making the stock its largest position. Sentry LLC owned 0.24% of FedEx worth $165,159,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FDX. Vanguard Group Inc. grew its holdings in FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after acquiring an additional 2,741,723 shares during the last quarter. Dodge & Cox increased its position in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after acquiring an additional 1,742,666 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of FedEx by 5.9% in the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after acquiring an additional 269,567 shares during the last quarter. Invesco Ltd. lifted its position in shares of FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after purchasing an additional 108,426 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. Rothschild & Co Redburn raised their price target on shares of FedEx from $317.00 to $371.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Jefferies Financial Group increased their price objective on FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, December 19th. TD Cowen upped their price target on FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, JPMorgan Chase & Co. raised their price target on FedEx from $424.00 to $432.00 and gave the company a “neutral” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $393.85.

FedEx Stock Performance

FDX stock opened at $361.42 on Friday. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $392.86. 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 company has a market cap of $86.24 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. The business’s fifty day moving average is $359.29 and its 200-day moving average is $298.80.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.51 earnings per share. Equities research analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, March 9th. FedEx’s payout ratio is presently 30.87%.

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.