FedEx Corporation $FDX Position Reduced by ING Groep NV

ING Groep NV trimmed its stake in shares of FedEx Corporation (NYSE:FDX) by 40.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,246 shares of the shipping service provider’s stock after selling 17,903 shares during the quarter. ING Groep NV’s holdings in FedEx were worth $7,581,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC bought a new position in FedEx during the 4th quarter valued at $29,000. Tucker Asset Management LLC bought a new position in FedEx during the 4th quarter valued at $29,000. ORG Partners LLC boosted its stake in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after acquiring an additional 35 shares during the last quarter. Camelot Portfolios LLC bought a new position in FedEx during the 4th quarter valued at $31,000. Finally, Wealth Watch Advisors INC bought a new position in FedEx during the 3rd quarter valued at $28,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on FDX. Argus increased their target price on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Stifel Nicolaus increased their target price on shares of FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Citigroup began coverage on shares of FedEx in a report on Thursday, May 21st. They set a “buy” rating and a $443.00 target price on the stock. BNP Paribas Exane dropped their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Finally, UBS Group began coverage on shares of FedEx in a report on Wednesday, May 27th. They set a “buy” rating and a $445.00 target price on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $372.41.

FedEx Stock Performance

Shares of FDX opened at $329.96 on Tuesday. The firm has a 50-day moving average price of $373.31 and a 200 day moving average price of $341.31. The firm has a market capitalization of $78.73 billion, a PE ratio of 17.56, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $341.14.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the prior year, the firm posted $4.51 EPS. FedEx’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is currently 30.87%.

Insider Activity

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

About FedEx

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.