Clearbridge Investments LLC Purchases 1,647 Shares of FedEx Co. (NYSE:FDX)

Clearbridge Investments LLC boosted its holdings in FedEx Co. (NYSE:FDX - Free Report) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,214 shares of the shipping service provider's stock after buying an additional 1,647 shares during the period. Clearbridge Investments LLC's holdings in FedEx were worth $6,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC boosted its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the 4th quarter valued at $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth $28,000. Kentucky Trust Co bought a new stake in FedEx during the fourth quarter valued at $28,000. Finally, Activest Wealth Management bought a new position in FedEx in the 4th quarter worth about $29,000. Institutional investors own 84.47% of the company's stock.

Insiders Place Their Bets

In other 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,711 shares of company stock worth $3,312,693. Company insiders own 8.87% of the company's stock.

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FedEx Stock Performance

NYSE FDX traded down $5.96 during trading hours on Friday, hitting $209.90. 3,618,525 shares of the company's stock traded hands, compared to its average volume of 1,754,835. 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 52 week low of $203.90 and a 52 week high of $313.84. The firm has a market capitalization of $50.29 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24. The business's fifty day moving average price is $252.45 and its two-hundred day moving average price is $268.95.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets cut their price objective on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Bank of America lowered their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. UBS Group reduced their target price on FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective for the company. Finally, Loop Capital cut shares of FedEx from a "hold" rating to a "sell" rating and reduced their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $302.71.

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.