FedEx Co. (NYSE:FDX) Stock Holdings Lowered by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its stake in FedEx Co. (NYSE:FDX - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,004 shares of the shipping service provider's stock after selling 14,400 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.10% of FedEx worth $67,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its stake in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after acquiring an additional 52 shares during the period. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $26,000. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter worth about $28,000. City Holding Co. purchased a new position in FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.87% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Barclays dropped their price target on FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. BMO Capital Markets dropped their price target on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Finally, Cfra Research raised shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus price target of $297.71.

FedEx Stock Performance

Shares of FedEx stock traded down $4.24 during trading hours on Friday, reaching $211.45. The company's stock had a trading volume of 1,328,116 shares, compared to its average volume of 1,780,013. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company's 50 day simple moving average is $233.47 and its 200 day simple moving average is $261.81. The stock has a market cap of $50.66 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 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 in the previous year, the company earned $3.86 earnings per share. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio is currently 34.63%.

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.