Kimelman & Baird LLC Lowers Stake in FedEx Co. (NYSE:FDX)

Kimelman & Baird LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 15.5% in the 4th quarter, Holdings Channel reports. The firm owned 355 shares of the shipping service provider’s stock after selling 65 shares during the period. Kimelman & Baird LLC’s holdings in FedEx were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during 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. Hotchkis & Wiley Capital Management LLC raised its position in shares of FedEx by 0.7% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of FedEx by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after purchasing an additional 49,160 shares during the last quarter. Finally, Sentry LLC raised its position in shares of FedEx by 0.4% during the 4th 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. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus cut their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Stephens cut their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $318.04.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

NYSE:FDX opened at $242.27 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $58.35 billion, a P/E ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. The company has a 50 day moving average price of $263.04 and a 200 day moving average price of $274.21. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 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 company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the company posted $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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