Chevy Chase Trust Holdings LLC Sells 2,818 Shares of FedEx Co. (NYSE:FDX)

Chevy Chase Trust Holdings LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,577 shares of the shipping service provider’s stock after selling 2,818 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in FedEx were worth $33,641,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Virtu Financial LLC bought a new position in shares of FedEx during the 3rd quarter worth approximately $3,405,000. Wedmont Private Capital raised its stake in shares of FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares in the last quarter. GFS Advisors LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $26,855,000. Persium Advisors LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $530,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of FedEx by 137.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock worth $64,133,000 after acquiring an additional 132,036 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on FDX. UBS Group boosted their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Raymond James boosted their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx Stock Performance

FDX opened at $267.83 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a fifty day moving average price of $272.65 and a 200 day moving average price of $279.45. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock has a market cap of $64.51 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the business posted $3.99 EPS. The business’s revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In related news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were bought 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 directly owns 9,067 shares of the company’s stock, valued at $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 company insiders.

FedEx 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.