Westhampton Capital LLC Has $498,000 Stake in FedEx Co. (NYSE:FDX)

Westhampton Capital LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 9.8% during the first quarter, HoldingsChannel.com reports. The firm owned 1,720 shares of the shipping service provider’s stock after selling 187 shares during the period. Westhampton Capital LLC’s holdings in FedEx were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. boosted its holdings in shares of FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after acquiring an additional 5,055 shares in the last quarter. Western Wealth Management LLC boosted its position in shares of FedEx by 10.0% in the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after purchasing an additional 333 shares during the last quarter. Trust Point Inc. bought a new stake in FedEx in the fourth quarter valued at approximately $282,000. Planned Solutions Inc. bought a new position in FedEx during the fourth quarter worth about $32,000. Finally, EFG Asset Management North America Corp. raised its holdings in shares of FedEx by 173.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after acquiring an additional 4,831 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 1,325 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $278.24, for a total value of $368,668.00. Following the completion of the sale, the chief executive officer now owns 84,614 shares in the company, valued at $23,542,999.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 1,325 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $278.24, for a total transaction of $368,668.00. Following the sale, the chief executive officer now owns 84,614 shares of the company’s stock, valued at $23,542,999.36. The disclosure for this sale can be found here. Insiders have sold a total of 135,820 shares of company stock worth $37,639,038 in the last quarter. 8.73% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Raymond James reduced their price target on FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Morgan Stanley lifted their target price on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. UBS Group cut their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, Robert W. Baird upped their target price on FedEx from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.00.

FedEx Stock Performance

FDX stock traded down $0.99 on Tuesday, hitting $297.69. The company’s stock had a trading volume of 882,597 shares, compared to its average volume of 1,948,161. The firm has a 50 day moving average of $258.10 and a two-hundred day moving average of $256.24. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $73.26 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $302.41.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter last year, the firm posted $4.94 EPS. The business’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 20.67 EPS for the current fiscal year.

FedEx announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th will be issued a dividend of $1.38 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio is presently 32.04%.

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.