Glenview Trust co Sells 388 Shares of FedEx Co. (NYSE:FDX)

Glenview Trust co trimmed its position in shares of FedEx Co. (NYSE:FDX) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,199 shares of the shipping service provider’s stock after selling 388 shares during the period. Glenview Trust co’s holdings in FedEx were worth $2,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Geode Capital Management LLC grew its stake in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares during the last quarter. Franklin Resources Inc. grew its position in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of FedEx by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock valued at $422,202,000 after purchasing an additional 49,160 shares during the period. Finally, Sentry LLC grew its holdings in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after purchasing an additional 5,404 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FDX shares. Wells Fargo & Company lowered their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Bank of America raised their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus lowered their target price on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Stephens cut their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $318.04.

Insider Buying and Selling

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Up 0.5 %

NYSE:FDX opened at $242.27 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $239.50 and a twelve month high of $313.84. The company has a market cap of $58.35 billion, a PE ratio of 15.44, a P/E/G ratio of 1.11 and a beta of 1.23. The company’s 50 day moving average is $263.04 and its two-hundred day moving average is $274.21.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.99 earnings per share. Analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 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.