Burney Co. Cuts Stake in FedEx Co. (NYSE:FDX)

Burney Co. cut its stake in FedEx Co. (NYSE:FDX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,999 shares of the shipping service provider’s stock after selling 40 shares during the quarter. Burney Co.’s holdings in FedEx were worth $1,969,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Founders Grove Wealth Partners LLC purchased a new position in shares of FedEx in the fourth quarter valued at approximately $235,000. Richard P Slaughter Associates Inc grew its holdings in shares of FedEx by 0.5% during the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after buying an additional 42 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of FedEx by 17.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 535 shares of the shipping service provider’s stock worth $151,000 after buying an additional 80 shares in the last quarter. Park Avenue Securities LLC boosted its position in FedEx by 13.8% during the fourth quarter. Park Avenue Securities LLC now owns 5,741 shares of the shipping service provider’s stock worth $1,615,000 after acquiring an additional 698 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in FedEx by 24.9% during the 4th quarter. Kathmere Capital Management LLC now owns 913 shares of the shipping service provider’s stock valued at $257,000 after acquiring an additional 182 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. UBS Group lifted their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Susquehanna lowered their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $325.61.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Trading Down 0.4 %

Shares of NYSE:FDX opened at $276.62 on Thursday. The company has a market cap of $66.62 billion, a PE ratio of 17.06, a P/E/G ratio of 1.18 and a beta of 1.20. The company’s 50 day moving average is $283.89 and its two-hundred day moving average is $284.31. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $3.99 earnings per share. Equities analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

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.