FedEx Co. (NYSE:FDX) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC decreased its position in shares of FedEx Co. (NYSE:FDX) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,824 shares of the shipping service provider’s stock after selling 415 shares during the period. RNC Capital Management LLC’s holdings in FedEx were worth $1,357,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in FedEx during the 3rd quarter worth about $3,405,000. Czech National Bank raised its position in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares in the last quarter. Wedmont Private Capital raised its position in FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after purchasing an additional 91 shares in the last quarter. GFS Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $26,855,000. Finally, Persium Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $530,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, 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. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $258.74 on Friday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market cap of $62.32 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The business has a fifty day moving average of $276.41 and a 200-day moving average of $281.02. 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 (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the firm posted $3.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s payout ratio is currently 35.18%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group increased their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their price target on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Wells Fargo & Company raised their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets raised their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

About FedEx

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.