Fifth Third Bancorp Sells 2,100 Shares of FedEx Co. (NYSE:FDX)

Fifth Third Bancorp reduced its position in shares of FedEx Co. (NYSE:FDX) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,984 shares of the shipping service provider’s stock after selling 2,100 shares during the period. Fifth Third Bancorp’s holdings in FedEx were worth $18,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AXA S.A. lifted its holdings in shares of FedEx by 10.1% during the second quarter. AXA S.A. now owns 51,944 shares of the shipping service provider’s stock worth $15,575,000 after purchasing an additional 4,746 shares during the period. AQR Capital Management LLC grew its position in shares of FedEx by 9.4% in the 2nd quarter. AQR Capital Management LLC now owns 92,093 shares of the shipping service provider’s stock valued at $27,432,000 after buying an additional 7,940 shares during the last quarter. Dark Forest Capital Management LP increased its stake in shares of FedEx by 4.7% in the second quarter. Dark Forest Capital Management LP now owns 1,180 shares of the shipping service provider’s stock valued at $354,000 after buying an additional 53 shares during the period. MBB Public Markets I LLC bought a new position in shares of FedEx during the second quarter worth about $5,205,000. Finally, MidWestOne Financial Group Inc. lifted its stake in shares of FedEx by 43.3% in the second quarter. MidWestOne Financial Group Inc. now owns 2,221 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 671 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 1.1 %

FedEx stock opened at $273.12 on Friday. The stock has a market cap of $65.78 billion, a P/E ratio of 17.41, a PEG ratio of 1.12 and a beta of 1.20. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm’s fifty day moving average price is $281.64 and its 200-day moving average price is $283.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

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, beating 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 firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the firm posted $3.99 EPS. The company’s revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. FedEx’s dividend payout ratio is presently 35.18%.

Insider Transactions at FedEx

In other news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’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 value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays boosted their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and boosted their price objective for the company from $288.00 to $365.00 in a research note on Friday, December 20th. Finally, Sanford C. Bernstein cut 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 note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

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.