Wedge Capital Management L L P NC Raises Holdings in FedEx Co. (NYSE:FDX)

Wedge Capital Management L L P NC lifted its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,836 shares of the shipping service provider's stock after buying an additional 3,697 shares during the period. Wedge Capital Management L L P NC's holdings in FedEx were worth $9,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of FedEx by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 1,685 shares of the shipping service provider's stock worth $505,000 after purchasing an additional 75 shares during the last quarter. Ieq Capital LLC boosted its stake in FedEx by 4.9% during the second quarter. Ieq Capital LLC now owns 13,838 shares of the shipping service provider's stock worth $4,149,000 after buying an additional 647 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of FedEx by 17.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 18,489 shares of the shipping service provider's stock valued at $5,544,000 after acquiring an additional 2,784 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of FedEx by 49.0% in the 2nd quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider's stock valued at $864,000 after acquiring an additional 948 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in shares of FedEx by 99.6% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,594 shares of the shipping service provider's stock worth $1,384,000 after acquiring an additional 2,292 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

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 shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company's stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Stock Performance

Shares of FedEx stock traded down $2.26 on Friday, hitting $275.11. The stock had a trading volume of 1,577,458 shares, compared to its average volume of 1,877,061. The company's 50 day moving average price is $283.48 and its 200 day moving average price is $283.94. The stock has a market cap of $66.26 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 1.20. 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 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $22.14 billion. During the same period in the prior year, the company earned $3.99 earnings per share. The company's revenue was down .7% compared to the same quarter last year. On average, research analysts anticipate that FedEx Co. will post 19.2 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx's dividend payout ratio is currently 35.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FDX shares. 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 report on Friday, December 20th. StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Bank of America boosted their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Stephens reduced their price target on shares of FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a research report on Friday, December 20th. Finally, UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a "buy" rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $325.61.

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.