Addenda Capital Inc. Decreases Position in FedEx Co. (NYSE:FDX)

Addenda Capital Inc. trimmed its position in shares of FedEx Co. (NYSE:FDX) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,718 shares of the shipping service provider’s stock after selling 77 shares during the quarter. Addenda Capital Inc.’s holdings in FedEx were worth $7,553,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC increased its stake in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx during the fourth quarter worth about $28,000. City Holding Co. acquired a new stake in FedEx during the fourth quarter worth about $28,000. Finally, FNY Investment Advisers LLC increased its stake in FedEx by 177.5% during the fourth quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FedEx stock opened at $275.11 on Tuesday. The stock has a market cap of $66.26 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The business has a fifty day simple moving average of $283.48 and a 200-day simple moving average of $283.87. 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 Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Buying and Selling

In other news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx 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 completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade 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 company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FDX shares. Raymond James upped their target price on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upped their target price on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. BMO Capital Markets upped 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. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $325.61.

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.