Tritonpoint Wealth LLC Sells 225 Shares of FedEx Co. (NYSE:FDX)

Tritonpoint Wealth LLC reduced its position in FedEx Co. (NYSE:FDX) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,376 shares of the shipping service provider’s stock after selling 225 shares during the quarter. Tritonpoint Wealth LLC’s holdings in FedEx were worth $582,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FDX. Brighton Jones LLC raised its stake in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares in the last quarter. Avestar Capital LLC raised its stake in FedEx by 10.3% during the fourth quarter. Avestar Capital LLC now owns 1,383 shares of the shipping service provider’s stock worth $391,000 after acquiring an additional 129 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in FedEx by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 97,351 shares of the shipping service provider’s stock worth $27,293,000 after acquiring an additional 2,632 shares in the last quarter. Vontobel Holding Ltd. raised its stake in FedEx by 4.6% during the fourth quarter. Vontobel Holding Ltd. now owns 30,124 shares of the shipping service provider’s stock worth $8,475,000 after acquiring an additional 1,325 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in FedEx by 20.9% during the fourth quarter. V Square Quantitative Management LLC now owns 3,149 shares of the shipping service provider’s stock worth $886,000 after acquiring an additional 545 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have issued reports on FDX. Cfra Research upgraded FedEx to a “hold” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 target price for the company. UBS Group lowered their target price on FedEx from $331.00 to $311.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Finally, Bank of America lowered their target price on FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.54.

FedEx Price Performance

Shares of FDX opened at $223.95 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The stock has a market cap of $53.66 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The stock’s 50-day moving average price is $216.82 and its two-hundred day moving average price is $246.98.

FedEx (NYSE:FDX) last issued its 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 return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the business posted $3.86 EPS. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, June 23rd. This is a boost from FedEx’s previous quarterly dividend of $1.38. FedEx’s payout ratio is 36.39%.

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.