Wellington Management Group LLP Has $3.42 Million Stake in FedEx Co. (NYSE:FDX)

Wellington Management Group LLP cut its holdings in FedEx Co. (NYSE:FDX - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,142 shares of the shipping service provider's stock after selling 8,920 shares during the period. Wellington Management Group LLP's holdings in FedEx were worth $3,416,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FDX. Norges Bank purchased a new position in shares of FedEx in the fourth quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new stake in FedEx during the 4th quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC boosted 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 last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock worth $90,751,000 after acquiring an additional 321,141 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock valued at $1,042,050,000 after buying an additional 314,380 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.87% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stephens cut their target price on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of FedEx from $275.00 to $260.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Stifel Nicolaus dropped their target price on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. UBS Group reduced their price target on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Cfra Research raised FedEx to a "hold" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.63.

FedEx Trading Down 2.9 %

Shares of NYSE:FDX traded down $6.08 during mid-day trading on Wednesday, hitting $201.27. The stock had a trading volume of 751,626 shares, compared to its average volume of 1,957,607. The company's 50 day moving average is $242.19 and its 200-day moving average is $264.94. FedEx Co. has a 12-month low of $194.29 and a 12-month high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $48.22 billion, a PE ratio of 12.83, a P/E/G ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current 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. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.74%. FedEx's payout ratio is presently 34.63%.

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.