Diamond Hill Capital Management Inc. Sells 73,244 Shares of FedEx Corporation $FDX

Diamond Hill Capital Management Inc. cut its holdings in FedEx Corporation (NYSE:FDX) by 10.0% in the fourth quarter, HoldingsChannel reports. The firm owned 655,987 shares of the shipping service provider’s stock after selling 73,244 shares during the period. Diamond Hill Capital Management Inc.’s holdings in FedEx were worth $189,488,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. LRI Investments LLC boosted its holdings in FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock worth $183,000 after purchasing an additional 31 shares in the last quarter. Legacy Bridge LLC lifted its position in FedEx by 33.0% during the 4th quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock worth $38,000 after acquiring an additional 33 shares during the last quarter. True Wealth Design LLC lifted its position in FedEx by 8.2% during the 4th quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider’s stock worth $133,000 after acquiring an additional 35 shares during the last quarter. ORG Partners LLC lifted its position in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares during the last quarter. Finally, Moneco Advisors LLC lifted its position in FedEx by 3.9% during the 4th quarter. Moneco Advisors LLC now owns 968 shares of the shipping service provider’s stock worth $280,000 after acquiring an additional 36 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Activity at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares in the company, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,104 shares of company stock worth $17,599,006 in the last three months. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Up 0.6%

NYSE FDX opened at $389.17 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The firm has a 50-day simple moving average of $370.39 and a 200 day simple moving average of $332.38. FedEx Corporation has a twelve month low of $214.35 and a twelve month high of $404.03. The stock has a market cap of $92.86 billion, a PE ratio of 20.71, a PEG ratio of 1.47 and a beta of 1.29.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter last year, the company earned $4.51 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, research analysts forecast that FedEx Corporation will post 19.72 EPS for the current year.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. Stephens reissued an “overweight” rating and set a $435.00 target price on shares of FedEx in a research report on Tuesday, April 14th. TD Cowen boosted their target price on shares of FedEx from $383.00 to $426.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings raised shares of FedEx from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. HSBC raised shares of FedEx from a “reduce” rating to a “hold” rating and set a $360.00 target price for the company in a research report on Friday, March 20th. Finally, Sanford C. Bernstein boosted their target price on shares of FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $399.65.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.