FedEx Corporation $FDX Stock Sold by Horrell Capital Management Inc.

Horrell Capital Management Inc. decreased its holdings in FedEx Corporation (NYSE:FDX) by 52.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,306 shares of the shipping service provider’s stock after selling 21,020 shares during the quarter. FedEx comprises about 2.9% of Horrell Capital Management Inc.’s portfolio, making the stock its 10th biggest position. Horrell Capital Management Inc.’s holdings in FedEx were worth $5,504,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FDX. BlackRock Inc. purchased a new stake in FedEx in the second quarter valued at about $6,508,103,000. Primecap Management Co. CA purchased a new stake in shares of FedEx during the second quarter worth about $2,554,138,000. Dimensional Fund Advisors LP grew its stake in shares of FedEx by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock worth $936,688,000 after acquiring an additional 52,963 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of FedEx by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after acquiring an additional 125,950 shares in the last quarter. Finally, Boston Partners raised its position in shares of FedEx by 2.9% in the 4th quarter. Boston Partners now owns 2,041,209 shares of the shipping service provider’s stock valued at $591,494,000 after purchasing an additional 57,281 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of NYSE FDX traded up $2.58 during trading on Thursday, reaching $291.62. 1,292,220 shares of the company traded hands, compared to its average volume of 2,051,327. The stock has a market cap of $69.02 billion, a P/E ratio of 15.75, a PEG ratio of 1.54 and a beta of 1.28. The firm’s fifty day simple moving average is $311.87 and its 200 day simple moving average is $336.60. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12-month low of $179.69 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, research analysts anticipate that FedEx Corporation will post 17.55 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio is currently 26.36%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Evercore raised their price target on shares of FedEx from $350.00 to $351.00 in a report on Monday, September 28th. Bank of America reissued a “buy” rating and issued a $140.00 target price on shares of FedEx in a research report on Tuesday, September 29th. JPMorgan Chase & Co. lowered their price target on FedEx from $400.00 to $399.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group dropped their price target on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Raymond James Financial set a $330.00 price objective on FedEx in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.64.

FedEx Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.