Asio Capital LLC Sells 7,717 Shares of FedEx Co. (NYSE:FDX)

Asio Capital LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 25.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,976 shares of the shipping service provider’s stock after selling 7,717 shares during the quarter. FedEx comprises 1.2% of Asio Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Asio Capital LLC’s holdings in FedEx were worth $6,326,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FDX. Fiduciary Financial Group LLC raised its stake in FedEx by 5.2% during the third quarter. Fiduciary Financial Group LLC now owns 1,565 shares of the shipping service provider’s stock valued at $409,000 after buying an additional 77 shares during the last quarter. Wynn Capital LLC raised its stake in FedEx by 1.6% during the third quarter. Wynn Capital LLC now owns 7,042 shares of the shipping service provider’s stock valued at $1,927,000 after buying an additional 109 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in FedEx by 32.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 16,196 shares of the shipping service provider’s stock valued at $4,430,000 after buying an additional 3,990 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in FedEx during the third quarter valued at $1,249,000. Finally, Tobam purchased a new position in FedEx during the third quarter valued at $82,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a research note on Sunday, October 6th. Stephens reiterated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Robert W. Baird reduced their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

Insider Transactions at FedEx

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Up 0.0 %

Shares of NYSE:FDX opened at $264.36 on Friday. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The stock has a market cap of $64.59 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The business’s 50 day moving average is $281.08 and its 200 day moving average is $275.58. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $4.55 EPS. Sell-side analysts predict that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.09%. FedEx’s payout ratio is 34.05%.

FedEx Profile

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.