FedEx Co. (NYSE:FDX) Shares Sold by Summit X LLC

Summit X LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 9.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 743 shares of the shipping service provider’s stock after selling 81 shares during the quarter. Summit X LLC’s holdings in FedEx were worth $209,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FDX. Raymond James Financial Inc. acquired a new stake in shares of FedEx during the 4th quarter worth about $234,028,000. ACR Alpine Capital Research LLC boosted its stake in shares of FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its stake in shares of FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. boosted 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 worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. BMO Capital Markets raised their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” 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, Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Stock Up 0.3 %

FDX stock opened at $243.66 on Thursday. FedEx Co. has a twelve month low of $239.50 and a twelve month 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 market capitalization of $58.69 billion, a P/E ratio of 15.53, a PEG ratio of 1.11 and a beta of 1.23. The firm has a 50 day simple moving average of $264.35 and a 200-day simple moving average of $275.13.

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 net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the company earned $3.99 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

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.