FedEx Co. (NYSE:FDX) Shares Bought by Violich Capital Management Inc.

Violich Capital Management Inc. grew its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,895 shares of the shipping service provider's stock after purchasing an additional 1,825 shares during the period. Violich Capital Management Inc.'s holdings in FedEx were worth $1,940,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FDX. Virtu Financial LLC purchased a new position in FedEx in the third quarter worth about $3,405,000. Wedmont Private Capital grew its position in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock worth $631,000 after acquiring an additional 91 shares in the last quarter. GFS Advisors LLC purchased a new position in FedEx in the fourth quarter worth about $26,855,000. Persium Advisors LLC purchased a new position in FedEx in the fourth quarter worth about $530,000. Finally, Assenagon Asset Management S.A. grew its position in FedEx by 137.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider's stock worth $64,133,000 after acquiring an additional 132,036 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analysts Set New Price Targets

FDX has been the subject of several recent research reports. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Bank of America lifted their price target on FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Wells Fargo & Company raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. UBS Group raised their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, Loop Capital downgraded shares of FedEx from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $321.87.

FedEx Stock Up 1.8 %

FDX stock traded up $4.71 during trading on Friday, hitting $267.83. 1,264,547 shares of the company's stock traded hands, compared to its average volume of 1,693,311. The firm has a market capitalization of $64.51 billion, a P/E ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. The business has a fifty day simple moving average of $272.65 and a two-hundred day simple moving average of $279.45. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx's dividend payout ratio is currently 35.18%.

Insiders Place Their Bets

In other FedEx news, 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 transaction, the director now directly owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane purchased 333 shares of the business's stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares of the company's stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company's stock.

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.