ExodusPoint Capital Management LP Reduces Stock Position in FedEx Co. (NYSE:FDX)

ExodusPoint Capital Management LP trimmed its position in FedEx Co. (NYSE:FDX) by 59.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,519 shares of the shipping service provider’s stock after selling 196,284 shares during the period. ExodusPoint Capital Management LP owned about 0.05% of FedEx worth $33,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Advisors LLC purchased a new position in shares of FedEx during the 1st quarter worth $26,000. GW&K Investment Management LLC purchased a new position in FedEx during the first quarter worth about $27,000. Glass Jacobson Investment Advisors llc acquired a new stake in FedEx in the 2nd quarter worth about $27,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in FedEx in the 1st quarter valued at about $35,000. Finally, Hollencrest Capital Management increased its stake in shares of FedEx by 144.8% during the 2nd quarter. Hollencrest Capital Management now owns 164 shares of the shipping service provider’s stock valued at $41,000 after acquiring an additional 97 shares during the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX traded down $0.54 during mid-day trading on Monday, hitting $255.41. The stock had a trading volume of 439,166 shares, compared to its average volume of 1,946,738. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.76. The company has a market cap of $64.22 billion, a PE ratio of 15.61, a PEG ratio of 1.18 and a beta of 1.34. FedEx Co. has a fifty-two week low of $162.61 and a fifty-two week high of $270.95. The company’s fifty day simple moving average is $250.56 and its two-hundred day simple moving average is $247.58.

FedEx (NYSE:FDX) last released its earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.71 by $0.84. FedEx had a net margin of 4.71% and a return on equity of 16.14%. The firm had revenue of $21.68 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same quarter in the previous year, the firm earned $3.44 earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities analysts expect that FedEx Co. will post 18.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, December 8th. FedEx’s dividend payout ratio (DPR) is 30.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 10th. Barclays lifted their target price on FedEx from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, September 15th. Jefferies Financial Group boosted their target price on FedEx from $245.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 21st. Citigroup increased their price objective on shares of FedEx from $295.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Finally, Loop Capital upped their price target on shares of FedEx from $255.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, September 22nd. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $282.54.

Insider Activity

In related news, VP Jennifer L. Johnson sold 13,348 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $258.25, for a total value of $3,447,121.00. Following the completion of the transaction, the vice president now directly owns 3,428 shares of the company’s stock, valued at approximately $885,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.73% of the company’s stock.

About FedEx

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.