FedEx Co. (NYSE:FDX) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 73.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,347 shares of the shipping service provider's stock after selling 394,376 shares during the period. Prudential Financial Inc. owned about 0.06% of FedEx worth $39,484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in FedEx in the fourth quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC increased its holdings in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after acquiring an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC raised its position in FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock valued at $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. boosted its stake in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the period. Finally, KBC Group NV grew its position in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock worth $96,043,000 after purchasing an additional 226,608 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company's stock.

FedEx Price Performance

FedEx stock traded down $2.17 during trading hours on Friday, hitting $241.75. The stock had a trading volume of 1,679,093 shares, compared to its average volume of 1,744,375. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock's fifty day moving average is $256.59 and its two-hundred day moving average is $270.89. The stock has a market capitalization of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's dividend payout ratio is presently 34.63%.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Barclays reduced their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and reduced their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They issued a "buy" rating and a $337.00 target price on the stock. BNP Paribas upgraded FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Finally, Bank of America lowered their price objective on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Two investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $302.71.

FedEx 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.