Congress Wealth Management LLC DE Cuts Holdings in FedEx Co. (NYSE:FDX)

Congress Wealth Management LLC DE lessened its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,625 shares of the shipping service provider's stock after selling 24,931 shares during the period. Congress Wealth Management LLC DE's holdings in FedEx were worth $6,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. bLong Financial LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $391,000. Virtu Financial LLC acquired a new stake in FedEx during the third quarter valued at $3,405,000. Lodestone Wealth Management LLC purchased a new position in FedEx in the fourth quarter valued at $461,000. Wedmont Private Capital raised its position in shares of 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 acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth about $26,855,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx 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 $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated 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 sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,711 shares of company stock valued at $3,312,693. Company insiders own 8.87% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on FDX shares. Cfra Research upgraded FedEx to a "hold" rating in a research note on Thursday, March 20th. Stephens cut their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Stifel Nicolaus decreased their target price on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. TD Cowen cut their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Sanford C. Bernstein downgraded shares of FedEx from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $302.71.

FedEx Trading Down 0.9 %

Shares of FDX stock traded down $2.17 during trading on Friday, hitting $241.75. 1,679,093 shares of the stock traded hands, compared to its average volume of 1,744,375. The firm has a market capitalization of $57.92 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. 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 firm's fifty day moving average price is $256.59 and its 200-day moving average price is $270.89.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results 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). The business had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.86 EPS. As a group, research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's dividend payout ratio is presently 34.63%.

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.