Neuberger Berman Group LLC Cuts Position in FedEx Co. (NYSE:FDX)

Neuberger Berman Group LLC trimmed its holdings in FedEx Co. (NYSE:FDX - Free Report) by 74.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 65,469 shares of the shipping service provider's stock after selling 187,546 shares during the quarter. Neuberger Berman Group LLC's holdings in FedEx were worth $18,418,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on FDX. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and lowered their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $300.00 to $275.00 in a report on Monday, March 24th. BNP Paribas upgraded shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, January 16th. Stifel Nicolaus decreased their target price on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Citigroup reduced their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and an average target price of $300.63.

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Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was 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 directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Performance

FDX traded down $3.09 during trading on Tuesday, hitting $207.36. The company's stock had a trading volume of 1,079,326 shares, compared to its average volume of 1,774,494. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The business's 50 day simple moving average is $243.22 and its 200-day simple moving average is $265.34. 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 firm has a market cap of $49.68 billion, a PE ratio of 13.22, a P/E/G ratio of 1.11 and a beta of 1.24.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is 34.63%.

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.