Kornitzer Capital Management Inc. KS Reduces Stake in FedEx Co. (NYSE:FDX)

Kornitzer Capital Management Inc. KS lessened its holdings in FedEx Co. (NYSE:FDX - Free Report) by 4.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,694 shares of the shipping service provider's stock after selling 1,421 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in FedEx were worth $9,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC bought a new position in shares of FedEx during the 3rd quarter worth $97,000. Blue Trust Inc. grew its position in shares of FedEx by 112.0% during the 3rd quarter. Blue Trust Inc. now owns 1,802 shares of the shipping service provider's stock worth $540,000 after buying an additional 952 shares in the last quarter. OLD National Bancorp IN grew its position in shares of FedEx by 2.1% during the 3rd quarter. OLD National Bancorp IN now owns 3,930 shares of the shipping service provider's stock worth $1,076,000 after buying an additional 80 shares in the last quarter. Vest Financial LLC bought a new position in shares of FedEx during the 3rd quarter worth $336,000. Finally, Venture Visionary Partners LLC lifted its stake in shares of FedEx by 23.1% during the 3rd quarter. Venture Visionary Partners LLC now owns 4,713 shares of the shipping service provider's stock worth $1,290,000 after purchasing an additional 884 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company's stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company's stock.

FedEx Stock Performance

FedEx stock traded down $14.49 during midday trading on Friday, hitting $253.97. 4,329,771 shares of the company were exchanged, compared to its average volume of 1,697,695. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a fifty-two week low of $239.07 and a fifty-two week high of $313.84. The business has a fifty day simple moving average of $271.34 and a two-hundred day simple moving average of $278.38. The firm has a market capitalization of $61.17 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. FedEx's quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio is presently 35.18%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. TD Cowen upped their price objective on FedEx from $328.00 to $337.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. UBS Group upped their price objective on FedEx from $311.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Citigroup upped their price objective on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Wells Fargo & Company upped their price objective on FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price objective on FedEx from $370.00 to $372.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $321.87.

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.