Chevy Chase Trust Holdings LLC Cuts Position in FedEx Co. (NYSE:FDX)

Chevy Chase Trust Holdings LLC cut its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,577 shares of the shipping service provider's stock after selling 2,818 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in FedEx were worth $33,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX traded down $0.42 on Tuesday, reaching $267.35. The company's stock had a trading volume of 922,890 shares, compared to its average volume of 1,657,667. FedEx Co. has a 12-month low of $235.32 and a 12-month high of $313.84. The stock has a market capitalization of $64.39 billion, a P/E ratio of 17.04, a PEG ratio of 1.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock's 50 day simple moving average is $272.17 and its two-hundred day simple moving average is $278.71.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 EPS. Research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio is 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company's stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America upped their price target on FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Barclays lifted their price target on FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus decreased their target price on shares of FedEx from $368.00 to $364.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $321.87.

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.