Delta Asset Management LLC TN Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Delta Asset Management LLC TN lowered its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 24.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,460 shares of the shipping service provider's stock after selling 2,426 shares during the quarter. Delta Asset Management LLC TN's holdings in FedEx were worth $2,099,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. bLong Financial LLC bought a new position in shares of FedEx in the fourth quarter worth $391,000. Virtu Financial LLC acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $3,405,000. Lodestone Wealth Management LLC bought a new stake in shares of FedEx during the 4th quarter worth approximately $461,000. Wedmont Private Capital boosted its position in shares of FedEx by 4.1% during the 4th 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 in the last quarter. Finally, GFS Advisors LLC bought a new position in FedEx in the fourth quarter valued at approximately $26,855,000. Institutional investors own 84.47% of the company's stock.

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. Cfra Research upgraded FedEx to a "hold" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Barclays decreased their target price on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price for the company. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $302.71.

Remove Ads

FedEx Trading Up 0.3 %

NYSE FDX traded up $0.73 during trading hours on Monday, hitting $242.44. 627,590 shares of the company's stock were exchanged, compared to its average volume of 1,853,530. The firm has a market cap of $58.09 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.11 and a beta of 1.23. The stock has a 50-day simple moving average of $256.59 and a 200 day simple moving average of $270.89. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $21.96 billion. During the same period last year, the business earned $3.86 EPS. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Activity

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock worth $3,312,693 in the last three months. Company insiders own 8.87% of the company's stock.

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.