Mutual Advisors LLC Cuts Stock Position in FedEx Co. (NYSE:FDX)

Mutual Advisors LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,928 shares of the shipping service provider’s stock after selling 513 shares during the quarter. Mutual Advisors LLC’s holdings in FedEx were worth $1,090,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in FedEx in the third quarter valued at about $3,405,000. Czech National Bank grew its holdings in FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares during the period. Wedmont Private Capital increased its position in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the last quarter. Persium Advisors LLC bought a new stake in shares of FedEx in the fourth quarter valued at $530,000. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of FedEx during the 2nd quarter valued at $9,226,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FDX shares. Stephens lowered their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and boosted their price target for the company from $288.00 to $365.00 in a research report on Friday, December 20th. Wells Fargo & Company raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Raymond James raised their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $325.43.

FedEx Trading Up 1.1 %

Shares of FDX stock opened at $273.12 on Friday. The business has a 50-day moving average price of $281.64 and a two-hundred day moving average price of $283.27. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $65.78 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 EPS. Equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% 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.