Koshinski Asset Management Inc. Sells 762 Shares of FedEx Co. (NYSE:FDX)

Koshinski Asset Management Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 28.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,885 shares of the shipping service provider’s stock after selling 762 shares during the quarter. Koshinski Asset Management Inc.’s holdings in FedEx were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new position in FedEx during the 4th quarter valued at about $25,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter worth $39,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Sachetta LLC raised its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Finally, OFI Invest Asset Management lifted its position in shares of FedEx by 91.8% in the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock worth $50,000 after purchasing an additional 89 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX opened at $267.51 on Tuesday. The company’s 50-day simple moving average is $280.77 and its two-hundred day simple moving average is $275.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a market capitalization of $65.83 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.06 and a beta of 1.17. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued 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 during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.55 EPS. As a group, analysts predict that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI decreased their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Robert W. Baird decreased their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Argus lifted their price target on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Company 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.