FedEx Co. (NYSE:FDX) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its holdings in FedEx Co. (NYSE:FDX) by 37.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,788 shares of the shipping service provider’s stock after selling 67,423 shares during the quarter. Sei Investments Co.’s holdings in FedEx were worth $31,168,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in FedEx in the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC grew its position in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC increased its stake in shares of FedEx by 22,317.0% during 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 purchasing an additional 321,141 shares in the last quarter. Franklin Resources Inc. raised its position 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 lifted its stake in FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after buying an additional 226,608 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now directly 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

FDX has been the subject of several research reports. Stephens cut their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. TD Cowen decreased their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Citigroup dropped their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $300.60.

FedEx Price Performance

FDX opened at $241.19 on Wednesday. The firm has a market cap of $58.09 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23. 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 stock’s 50-day moving average price is $258.58 and its 200 day moving average price is $271.75. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.86 EPS. As a group, sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.