Birch Capital Management LLC Cuts Stock Holdings in FedEx Corporation $FDX

Birch Capital Management LLC lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 17.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 22,796 shares of the shipping service provider’s stock after selling 4,786 shares during the quarter. FedEx comprises approximately 3.5% of Birch Capital Management LLC’s holdings, making the stock its 9th largest position. Birch Capital Management LLC’s holdings in FedEx were worth $7,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FDX. Hollencrest Capital Management bought a new stake in shares of FedEx during the first quarter valued at about $25,000. Bayban acquired a new stake in FedEx in the first quarter worth about $26,000. Solstein Capital LLC bought a new position in FedEx in the 2nd quarter valued at about $27,000. EFG International AG bought a new position in FedEx in the 4th quarter valued at about $27,000. Finally, Wealth Watch Advisors INC acquired a new position in FedEx during the 3rd quarter valued at about $28,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Citigroup initiated coverage on FedEx in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company cut their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by insiders.

FedEx Stock Down 1.0%

FDX stock opened at $324.12 on Wednesday. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The firm has a market cap of $76.71 billion, a PE ratio of 17.51, a P/E/G ratio of 1.68 and a beta of 1.32. The firm has a 50 day simple moving average of $319.41 and a 200 day simple moving average of $350.02. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

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.