Foothills Asset Management Ltd. Cuts Holdings in FedEx Co. (FDX)

Foothills Asset Management Ltd. lowered its position in shares of FedEx Co. (NYSE:FDX) by 5.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,415 shares of the shipping service provider’s stock after selling 575 shares during the quarter. FedEx comprises about 2.0% of Foothills Asset Management Ltd.’s investment portfolio, making the stock its 19th largest position. Foothills Asset Management Ltd.’s holdings in FedEx were worth $2,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Beach Investment Management LLC. bought a new position in shares of FedEx during the second quarter valued at approximately $11,976,000. Pettee Investors Inc. bought a new position in shares of FedEx during the second quarter valued at approximately $527,000. Morse Asset Management Inc grew its holdings in shares of FedEx by 12.8% during the second quarter. Morse Asset Management Inc now owns 18,136 shares of the shipping service provider’s stock valued at $3,941,000 after purchasing an additional 2,065 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of FedEx by 4.8% during the second quarter. Kovitz Investment Group Partners LLC now owns 2,710 shares of the shipping service provider’s stock valued at $589,000 after purchasing an additional 125 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of FedEx during the second quarter valued at approximately $1,782,000. Hedge funds and other institutional investors own 75.69% of the company’s stock.

In other FedEx news, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the sale, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders sold 68,671 shares of company stock valued at $17,137,160 over the last 90 days. 8.45% of the stock is currently owned by insiders.

Several equities analysts have recently commented on FDX shares. Zacks Investment Research lowered FedEx from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Bank of America reaffirmed a “buy” rating and set a $247.00 target price (up from $240.00) on shares of FedEx in a report on Friday, October 6th. Sanford C. Bernstein set a $236.00 price objective on FedEx and gave the stock a “hold” rating in a report on Wednesday, December 20th. Loop Capital increased their price objective on FedEx to $318.00 in a report on Thursday, January 4th. Finally, UBS Group raised FedEx from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $264.00 to $302.00 in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. FedEx currently has a consensus rating of “Buy” and an average target price of $270.49.

FedEx Co. (FDX) traded up $1.91 on Thursday, reaching $271.49. The company’s stock had a trading volume of 1,378,000 shares, compared to its average volume of 1,942,255. The firm has a market capitalization of $72,880.00, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 1.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. FedEx Co. has a 12-month low of $182.89 and a 12-month high of $273.16.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 earnings per share. research analysts predict that FedEx Co. will post 13.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were given a $0.50 dividend. The ex-dividend date was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. FedEx’s dividend payout ratio (DPR) is 18.38%.

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FedEx Company Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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