FedEx Co. (NYSE:FDX) Stake Reduced by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its position in FedEx Co. (NYSE:FDX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,538 shares of the shipping service provider's stock after selling 4,429 shares during the quarter. Manning & Napier Advisors LLC's holdings in FedEx were worth $18,438,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake 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 worth $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. purchased a new position in shares of FedEx in the 4th quarter worth approximately $28,000. City Holding Co. purchased a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC bought a new stake in shares of FedEx during the 3rd quarter worth approximately $31,000. Institutional investors own 84.47% of the company's stock.

FedEx Trading Down 2.1 %

Shares of FDX traded down $5.67 during trading on Thursday, reaching $269.39. 2,822,002 shares of the company traded hands, compared to its average volume of 1,572,185. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $64.88 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The stock has a 50-day simple moving average of $280.84 and a 200-day simple moving average of $282.81. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion during the quarter, compared to analysts' expectations of $22.14 billion. During the same quarter in the previous year, the business posted $3.99 earnings per share. The business's quarterly revenue was down .7% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, December 9th. FedEx's payout ratio is 35.18%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FDX. Wells Fargo & Company raised their price target on FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. TD Cowen lifted their price target on FedEx from $328.00 to $337.00 and gave the company a "buy" rating in a report on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an "outperform" rating to a "market perform" rating and cut their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $325.43.

Insider Buying and Selling

In other FedEx news, Director Amy B. Lane purchased 333 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

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.