Orion Portfolio Solutions LLC Cuts Stock Position in FedEx Co. (NYSE:FDX)

Orion Portfolio Solutions LLC trimmed its position in FedEx Co. (NYSE:FDX) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,004 shares of the shipping service provider’s stock after selling 230 shares during the period. Orion Portfolio Solutions LLC’s holdings in FedEx were worth $1,970,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FDX. United Bank acquired a new stake in FedEx in the third quarter valued at about $615,000. Townsquare Capital LLC boosted its stake in shares of FedEx by 19.5% in the third quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock valued at $483,000 after buying an additional 288 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of FedEx by 989.0% in the third quarter. Benjamin Edwards Inc. now owns 23,349 shares of the shipping service provider’s stock valued at $6,391,000 after buying an additional 21,205 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in FedEx by 175.4% during the third quarter. Hilltop Holdings Inc. now owns 2,286 shares of the shipping service provider’s stock worth $625,000 after acquiring an additional 1,456 shares during the period. Finally, Janus Henderson Group PLC raised its position in FedEx by 1.9% in the third quarter. Janus Henderson Group PLC now owns 26,612 shares of the shipping service provider’s stock worth $7,280,000 after acquiring an additional 500 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is currently owned by insiders.

FedEx Trading Up 1.4 %

Shares of FDX opened at $245.45 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The stock has a 50-day moving average price of $254.79 and a 200 day moving average price of $270.10. The company has a market capitalization of $58.81 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the firm posted $3.86 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.25%. FedEx’s payout ratio is 34.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FDX. Raymond James cut their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Citigroup dropped their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Wells Fargo & Company reduced their price target on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. TD Cowen dropped their price target on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

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.