Stevens Capital Management LP Sells 8,836 Shares of FedEx Co. (NYSE:FDX)

Stevens Capital Management LP decreased its stake in shares of FedEx Co. (NYSE:FDX) by 83.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,794 shares of the shipping service provider’s stock after selling 8,836 shares during the quarter. Stevens Capital Management LP’s holdings in FedEx were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its position in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Rakuten Securities Inc. purchased a new position in FedEx during the 4th quarter valued at about $30,000. Tennessee Valley Asset Management Partners purchased a new position in FedEx during the 4th quarter valued at about $31,000. Planned Solutions Inc. purchased a new position in FedEx during the 4th quarter valued at about $32,000. Finally, Valley National Advisers Inc. increased its position in FedEx by 123.3% during the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FDX shares. Melius Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Monday, January 8th. The Goldman Sachs Group lifted their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley lifted their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, BMO Capital Markets lifted their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Price Performance

Shares of NYSE:FDX traded down $0.55 during midday trading on Thursday, hitting $265.52. 876,084 shares of the stock were exchanged, compared to its average volume of 2,041,564. The stock has a market cap of $65.34 billion, a P/E ratio of 15.35, a PEG ratio of 1.28 and a beta of 1.21. The company has a 50 day moving average price of $261.03 and a 200-day moving average price of $254.36. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the business earned $3.41 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. On average, research analysts forecast that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 29.07%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.