FedEx Co. (NYSE:FDX) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its stake in FedEx Co. (NYSE:FDX - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,392 shares of the shipping service provider's stock after selling 3,714 shares during the quarter. Guggenheim Capital LLC's holdings in FedEx were worth $10,519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Norges Bank purchased a new position in FedEx during the fourth quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new position in FedEx during the 4th quarter worth $234,028,000. ACR Alpine Capital Research LLC lifted its stake in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock worth $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after purchasing an additional 323,115 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its stake in FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock valued at $90,751,000 after buying an additional 321,141 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FDX shares. Barclays reduced their price target on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Bank of America cut their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Citigroup reduced their price target on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Raymond James dropped their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Two 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $298.96.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were 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 $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.87% of the company's stock.

FedEx Stock Up 1.6 %

NYSE:FDX traded up $3.36 during trading hours on Tuesday, hitting $208.48. The stock had a trading volume of 231,266 shares, compared to its average volume of 1,770,004. The business has a 50 day simple moving average of $237.90 and a two-hundred day simple moving average of $263.23. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $49.95 billion, a PE ratio of 13.27, 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). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's quarterly revenue 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. Analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Monday, March 10th. FedEx's dividend payout ratio (DPR) is currently 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.