Zurcher Kantonalbank Zurich Cantonalbank Sells 20,742 Shares of FedEx Co. (NYSE:FDX)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in FedEx Co. (NYSE:FDX) by 17.1% in the 4th quarter, Holdings Channel reports. The firm owned 100,691 shares of the shipping service provider’s stock after selling 20,742 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FedEx were worth $28,327,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FDX. bLong Financial LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $391,000. Virtu Financial LLC purchased a new stake in shares of FedEx in the 3rd quarter worth about $3,405,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $461,000. Wedmont Private Capital grew its position in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the period. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $26,855,000. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $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 owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent research reports. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Stifel Nicolaus cut their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. TD Cowen increased their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $318.58.

FedEx Price Performance

Shares of NYSE:FDX opened at $242.92 on Wednesday. The firm’s 50 day moving average price is $265.10 and its 200-day moving average price is $275.35. FedEx Co. has a twelve month low of $241.78 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $58.51 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the prior year, the business earned $3.99 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

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.