Truvestments Capital LLC Cuts Position in FedEx Co. (NYSE:FDX)

Truvestments Capital LLC lessened its position in FedEx Co. (NYSE:FDX) by 56.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 418 shares of the shipping service provider’s stock after selling 537 shares during the quarter. Truvestments Capital LLC’s holdings in FedEx were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FDX. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors boosted its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Sentry LLC bought a new position in shares of FedEx during the fourth quarter valued at about $1,811,748,000. Putnam Investments LLC boosted its stake in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the period. Finally, Norges Bank purchased a new stake in FedEx during the 4th quarter valued at $700,291,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.5 %

FDX stock traded up $1.55 during midday trading on Friday, hitting $300.14. The company’s stock had a trading volume of 1,200,882 shares, compared to its average volume of 1,737,460. The firm’s 50-day moving average is $273.07 and its 200-day moving average is $262.44. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a market cap of $73.32 billion, a PE ratio of 17.42, a P/E/G ratio of 1.08 and a beta of 1.18.

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 return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same period in the prior year, the company posted $4.94 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were given a dividend of $1.38 per share. This is an increase from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. FedEx’s dividend payout ratio is 32.04%.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now directly owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. Raymond James cut their price objective on FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. UBS Group reduced their price objective on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Finally, Evercore ISI dropped their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.00.

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.