Distillate Capital Partners LLC Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Distillate Capital Partners LLC lessened its position in FedEx Co. (NYSE:FDX - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,485 shares of the shipping service provider's stock after selling 3,442 shares during the period. FedEx comprises 1.2% of Distillate Capital Partners LLC's portfolio, making the stock its 21st largest holding. Distillate Capital Partners LLC's holdings in FedEx were worth $24,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FDX. Morse Asset Management Inc acquired a new position in FedEx during the 3rd quarter valued at about $465,000. Toronto Dominion Bank boosted its stake in FedEx by 1.7% in the third quarter. Toronto Dominion Bank now owns 83,811 shares of the shipping service provider's stock valued at $22,937,000 after acquiring an additional 1,361 shares in the last quarter. Sunbelt Securities Inc. raised its position in FedEx by 57.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,083 shares of the shipping service provider's stock worth $296,000 after buying an additional 397 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of FedEx during the 3rd quarter worth $3,405,000. Finally, Aldebaran Financial Inc. raised its position in FedEx by 8.7% during the third quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider's stock worth $307,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FDX shares. Cfra Research upgraded FedEx to a "hold" rating in a research report on Thursday, March 20th. BMO Capital Markets cut their target price on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. JPMorgan Chase & Co. cut their price objective on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Finally, Stephens decreased their price target on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average target price of $300.63.

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FedEx Stock Performance

Shares of NYSE FDX traded down $3.09 during mid-day trading on Tuesday, hitting $207.36. The company had a trading volume of 1,080,116 shares, compared to its average volume of 1,777,591. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market cap of $49.68 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The firm's 50 day simple moving average is $243.22 and its two-hundred day simple moving average is $265.34.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is 34.63%.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.87% of the stock is currently owned by corporate insiders.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.