Burney Co. Trims Position in FedEx Co. (NYSE:FDX)

Burney Co. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,999 shares of the shipping service provider’s stock after selling 40 shares during the quarter. Burney Co.’s holdings in FedEx were worth $1,969,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% in the 4th 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 grew its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter valued at $28,000. FNY Investment Advisers LLC raised its position in FedEx by 177.5% during the 4th quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FDX. JPMorgan Chase & Co. boosted their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. TD Cowen boosted their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut 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. Bank of America upped 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. Finally, BMO Capital Markets raised their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $325.61.

FedEx Stock Performance

Shares of NYSE FDX opened at $276.62 on Thursday. The company has a 50-day simple moving average of $283.89 and a 200-day simple moving average of $284.31. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market cap of $66.62 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. 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 company earned $3.99 EPS. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.00%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction 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 transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $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 owned by corporate 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.