London Co. of Virginia Has $68.06 Million Holdings in FedEx Corporation $FDX

London Co. of Virginia decreased its position in shares of FedEx Corporation (NYSE:FDX) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 191,097 shares of the shipping service provider’s stock after selling 12,255 shares during the quarter. London Co. of Virginia owned about 0.08% of FedEx worth $68,065,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sivia Capital Partners LLC bought a new position in shares of FedEx during the 2nd quarter worth approximately $586,000. CWM LLC lifted its position in shares of FedEx by 32.2% during the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock valued at $31,206,000 after acquiring an additional 26,322 shares during the period. Canada Post Corp Registered Pension Plan boosted its stake in FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after acquiring an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in FedEx by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after acquiring an additional 6,864 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new stake in FedEx in the fourth quarter worth $2,122,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred 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 owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Down 0.3%

Shares of NYSE FDX opened at $314.77 on Friday. The stock has a market capitalization of $74.47 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.62 and a beta of 1.29. The company has a 50-day moving average price of $335.98 and a 200-day moving average price of $350.05. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. 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 posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion for the quarter. On average, equities research analysts forecast that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FDX shares. UBS Group dropped their price objective on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. BNP Paribas Exane decreased their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. Weiss Ratings lowered FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Finally, Stifel Nicolaus reduced their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

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.