Cohen Klingenstein LLC Sells 1,000 Shares of FedEx Co. (NYSE:FDX)

Cohen Klingenstein LLC decreased its holdings in FedEx Co. (NYSE:FDX - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,089 shares of the shipping service provider's stock after selling 1,000 shares during the quarter. Cohen Klingenstein LLC's holdings in FedEx were worth $9,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FDX. Lake Street Private Wealth LLC raised its stake in FedEx by 6.5% in the fourth quarter. Lake Street Private Wealth LLC now owns 14,669 shares of the shipping service provider's stock worth $4,127,000 after buying an additional 892 shares in the last quarter. Brooklyn Investment Group raised its position in shares of FedEx by 3.9% in the 4th quarter. Brooklyn Investment Group now owns 1,580 shares of the shipping service provider's stock worth $445,000 after acquiring an additional 59 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of FedEx by 13.8% in the 4th quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider's stock valued at $796,000 after purchasing an additional 344 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of FedEx by 11.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 34,836 shares of the shipping service provider's stock valued at $9,800,000 after purchasing an additional 3,697 shares during the period. Finally, Avanza Fonder AB purchased a new stake in FedEx in the fourth quarter worth $6,898,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

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

FedEx Stock Performance

Shares of FDX stock traded down $2.26 during mid-day trading on Friday, reaching $275.11. 1,577,458 shares of the company's stock traded hands, compared to its average volume of 1,877,061. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $66.26 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The firm has a 50 day moving average price of $283.48 and a two-hundred day moving average price of $283.94.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts' consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analysts' expectations of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 earnings per share. The business's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that FedEx Co. will post 19.2 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FDX shares. Sanford C. Bernstein downgraded shares of FedEx from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Barclays raised their target price on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Stifel Nicolaus upped their price target on FedEx from $321.00 to $368.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Stephens cut their target price on FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a research note on Friday, December 20th. Finally, StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $325.61.

FedEx Company 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.