Huntington National Bank Increases Stake in FedEx Co. (NYSE:FDX)

Huntington National Bank increased its position in FedEx Co. (NYSE:FDX - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,669 shares of the shipping service provider's stock after purchasing an additional 4,179 shares during the period. Huntington National Bank's holdings in FedEx were worth $4,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in FedEx by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the period. Geode Capital Management LLC lifted its holdings in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. boosted its position 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 worth $1,209,338,000 after purchasing an additional 323,115 shares in the last quarter. Norges Bank purchased a new position in FedEx during the fourth quarter valued at $807,352,000. Finally, Mawer Investment Management Ltd. raised its holdings in FedEx by 5.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider's stock worth $664,447,000 after buying an additional 130,044 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the company's stock in a transaction 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 transaction, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the business'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 of the company's stock, valued at $5,686,161.85. This represents a 20.86 % 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 over the last three months. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Citigroup dropped their target price on FedEx from $347.00 to $317.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. 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. Cfra Research upgraded shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Finally, Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and reduced their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $302.71.

FedEx Price Performance

NYSE FDX traded down $5.96 during trading on Friday, hitting $209.90. 3,618,525 shares of the stock traded hands, compared to its average volume of 1,754,835. The company has a market capitalization of $50.29 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx Co. has a 12-month low of $203.90 and a 12-month high of $313.84. The firm has a 50-day simple moving average of $252.45 and a 200-day simple moving average of $268.95. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

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

FedEx Dividend Announcement

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