Daymark Wealth Partners LLC Sells 398 Shares of FedEx Co. (NYSE:FDX)

Daymark Wealth Partners LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,957 shares of the shipping service provider’s stock after selling 398 shares during the quarter. Daymark Wealth Partners LLC’s holdings in FedEx were worth $2,801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after acquiring an additional 67,502 shares during the period. Franklin Resources Inc. boosted its holdings in FedEx by 8.6% in 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 purchasing an additional 314,380 shares during the period. Ameriprise Financial Inc. grew its position in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 1.8 %

Shares of NYSE FDX opened at $270.52 on Thursday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $282.95 and a two-hundred day moving average of $283.61. The company has a market cap of $65.16 billion, a PE ratio of 17.24, a P/E/G ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.99 EPS. As a group, equities analysts expect 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 was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.04%. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane purchased 333 shares of the 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 directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred 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 $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FDX shares. BMO Capital Markets boosted their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Raymond James boosted their price objective on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Barclays lifted their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Bank of America increased their price objective on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.61.

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.