Fmr LLC Trims Stake in FedEx Co. (NYSE:FDX)

FMR LLC reduced its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 40.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,841,477 shares of the shipping service provider's stock after selling 1,944,585 shares during the period. FMR LLC owned 1.18% of FedEx worth $799,393,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FedEx in the 4th quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new stake in FedEx in the fourth quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Citigroup lowered their price target on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. TD Cowen decreased their price objective on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a report on Friday, March 21st. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, Stephens reduced their target price on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $300.63.

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FedEx Price Performance

Shares of NYSE FDX traded up $1.06 during mid-day trading on Friday, reaching $207.46. The company's stock had a trading volume of 2,196,102 shares, compared to its average volume of 1,778,362. The stock has a fifty day moving average of $244.07 and a two-hundred day moving average of $265.74. The firm has a market capitalization of $49.71 billion, a PE ratio of 13.22, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a 52 week low of $194.30 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.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the business earned $3.86 EPS. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is presently 34.63%.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value 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. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.