First Citizens Bank & Trust Co. decreased its position in shares of FedEx Co. (NYSE:FDX) by 75.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,788 shares of the shipping service provider’s stock after selling 8,467 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in FedEx were worth $506,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Traynor Capital Management Inc. grew its position in shares of FedEx by 1.2% during the 1st quarter. Traynor Capital Management Inc. now owns 5,317 shares of the shipping service provider’s stock worth $964,000 after buying an additional 61 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of FedEx by 226.9% during the 1st quarter. Valeo Financial Advisors LLC now owns 15,343 shares of the shipping service provider’s stock worth $2,783,000 after buying an additional 10,650 shares in the last quarter. Physicians Financial Services Inc. grew its position in shares of FedEx by 3.8% during the 1st quarter. Physicians Financial Services Inc. now owns 6,889 shares of the shipping service provider’s stock worth $1,250,000 after buying an additional 254 shares in the last quarter. Davis Rea LTD. bought a new position in shares of FedEx during the 1st quarter worth $775,000. Finally, Ingalls & Snyder LLC grew its position in shares of FedEx by 29.7% during the 1st quarter. Ingalls & Snyder LLC now owns 15,485 shares of the shipping service provider’s stock worth $2,809,000 after buying an additional 3,549 shares in the last quarter. 71.73% of the stock is currently owned by institutional investors and hedge funds.
FedEx stock opened at $196.95 on Monday. The stock has a market cap of $50.00 billion, a P/E ratio of 12.86, a P/E/G ratio of 0.97 and a beta of 1.62. FedEx Co. has a 52 week low of $150.94 and a 52 week high of $266.67. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is 16.98%.
In related news, CEO Frederick W. Smith sold 155,650 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the sale, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $173.30, for a total value of $4,679,100.00. Following the sale, the executive vice president now directly owns 200,320 shares in the company, valued at $34,715,456. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 187,950 shares of company stock worth $35,170,622. 8.50% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on the company. Susquehanna Bancshares restated a “neutral” rating and set a $174.00 price objective on shares of FedEx in a research note on Thursday, March 28th. Barclays decreased their price objective on FedEx from $235.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 20th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Credit Suisse Group restated a “buy” rating and set a $241.00 price objective on shares of FedEx in a research note on Monday, April 1st. Finally, Oppenheimer decreased their price objective on FedEx from $288.00 to $234.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $214.19.
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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