Clarkston Capital Partners LLC Sells 61,487 Shares of FedEx Corporation $FDX

Clarkston Capital Partners LLC trimmed its position in shares of FedEx Corporation (NYSE:FDX) by 18.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,773 shares of the shipping service provider’s stock after selling 61,487 shares during the period. FedEx comprises 1.9% of Clarkston Capital Partners LLC’s holdings, making the stock its 18th biggest holding. Clarkston Capital Partners LLC owned approximately 0.12% of FedEx worth $80,526,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the last quarter. Dodge & Cox grew its holdings in FedEx by 12.0% during the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the last quarter. Franklin Resources Inc. grew its holdings in FedEx by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares during the last quarter. Geode Capital Management LLC grew its holdings in FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after purchasing an additional 108,426 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a research report on Friday, March 20th. HSBC lowered their price objective on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. UBS Group assumed coverage on shares of FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating and a $445.00 price objective for the company. Finally, Wells Fargo & Company raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $371.45.

Insider Activity at FedEx

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares of the company’s stock, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% 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. Corporate insiders own 0.53% of the company’s stock.

FedEx Trading Down 0.1%

NYSE:FDX opened at $337.65 on Friday. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $342.81. The firm has a 50 day moving average of $371.84 and a 200 day moving average of $342.64. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The stock has a market capitalization 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 (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the prior year, the company posted $4.51 earnings per share. FedEx’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

About FedEx

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.