Capital Group Private Client Services Inc. Has $91.04 Million Position in FedEx Co. (NYSE:FDX)

Capital Group Private Client Services Inc. lessened its stake in FedEx Co. (NYSE:FDX - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 323,591 shares of the shipping service provider's stock after selling 8,118 shares during the quarter. FedEx comprises about 0.8% of Capital Group Private Client Services Inc.'s holdings, making the stock its 28th largest holding. Capital Group Private Client Services Inc. owned approximately 0.13% of FedEx worth $91,036,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FDX. Morse Asset Management Inc acquired a new position in FedEx in the 3rd quarter worth $465,000. Virtu Financial LLC acquired a new position in shares of FedEx in the third quarter worth about $3,405,000. Aldebaran Financial Inc. boosted its holdings in FedEx by 8.7% in the third quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider's stock valued at $307,000 after purchasing an additional 90 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in FedEx by 4.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider's stock valued at $513,000 after purchasing an additional 76 shares in the last quarter. Finally, Tudor Financial Inc. purchased a new stake in FedEx during the 3rd quarter worth approximately $282,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FDX shares. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company decreased their price target on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday. BMO Capital Markets reduced their target price on FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Citigroup dropped their price target on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and reduced their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $298.96.

FedEx Price Performance

Shares of FDX traded up $5.18 during midday trading on Wednesday, reaching $211.75. The stock had a trading volume of 596,867 shares, compared to its average volume of 1,771,949. The firm's 50 day moving average price is $236.77 and its 200-day moving average price is $262.84. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a market capitalization of $50.74 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.86 earnings per share. On average, analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

Insider Activity

In related 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 value of $1,499,050.25. Following the transaction, the chief operating officer now 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.

FedEx Company 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.