Primecap Management Co. CA Cuts Position in FedEx Co. (NYSE:FDX)

Primecap Management Co. CA trimmed its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,390,945 shares of the shipping service provider's stock after selling 318,385 shares during the quarter. FedEx makes up 2.7% of Primecap Management Co. CA's portfolio, making the stock its 3rd biggest holding. Primecap Management Co. CA owned 5.14% of FedEx worth $3,485,945,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. bLong Financial LLC purchased a new stake in FedEx during the fourth quarter worth $391,000. Virtu Financial LLC purchased a new stake in FedEx during the third quarter worth $3,405,000. Lodestone Wealth Management LLC purchased a new stake in FedEx during the fourth quarter worth $461,000. Wedmont Private Capital lifted its position in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock valued at $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter valued at $26,855,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup decreased their price objective on FedEx from $347.00 to $317.00 and set a "buy" rating on the stock in a research note on Tuesday. Raymond James lowered FedEx from an "outperform" rating to a "market perform" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research note on Friday, March 7th. They set a "buy" rating and a $337.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $317.48.

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FedEx Trading Up 1.0 %

Shares of FedEx stock traded up $2.36 during trading hours on Wednesday, reaching $248.16. The stock had a trading volume of 616,829 shares, compared to its average volume of 1,681,079. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1 year low of $239.50 and a 1 year high of $313.84. The firm has a market capitalization of $59.77 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.11 and a beta of 1.23. The firm has a 50 day simple moving average of $261.87 and a two-hundred day simple moving average of $273.48.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.22%. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Insider Buying and Selling at FedEx

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