FedEx Corporation $FDX is Huber Capital Management LLC’s 7th Largest Position

Huber Capital Management LLC decreased its holdings in shares of FedEx Corporation (NYSE:FDX) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,167 shares of the shipping service provider’s stock after selling 3,900 shares during the quarter. FedEx comprises about 3.5% of Huber Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Huber Capital Management LLC’s holdings in FedEx were worth $24,024,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FDX. Norges Bank purchased a new stake in shares of FedEx during the fourth quarter worth $859,085,000. Vanguard Group Inc. grew its holdings in shares of FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after buying an additional 2,741,723 shares in the last quarter. Boston Partners purchased a new stake in shares of FedEx during the third quarter worth $468,195,000. Dodge & Cox grew its holdings in shares of FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after buying an additional 1,742,666 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after buying an additional 1,718,278 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FDX shares. Bank of America dropped their target price on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Barclays lowered their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday. Sanford C. Bernstein boosted their price target on shares of FedEx from $457.00 to $470.00 and gave the company an “outperform” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $432.00 to $460.00 in a research report on Wednesday, May 27th. Finally, Argus boosted their price target on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $371.45.

Insider Activity at FedEx

In other FedEx 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 transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by corporate insiders.

FedEx Trading Down 0.1%

Shares of FDX stock opened at $337.65 on Friday. The company’s 50-day moving average price is $371.84 and its 200-day moving average price is $342.64. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a market cap of $80.57 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $342.81.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.51 earnings per share. As a group, equities analysts predict that FedEx Corporation will post 19.78 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 30.87%.

FedEx 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.