FedEx Co. (NYSE:FDX) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its holdings in FedEx Co. (NYSE:FDX) by 48.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,449 shares of the shipping service provider’s stock after selling 3,242 shares during the period. Stock Yards Bank & Trust Co.’s holdings in FedEx were worth $970,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC raised its position 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 period. Evermay Wealth Management LLC raised its holdings in shares of FedEx by 72.7% during 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 period. Peoples Financial Services CORP. acquired a new position in FedEx during the 4th quarter worth approximately $28,000. City Holding Co. purchased a new position in FedEx in the 4th quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of FedEx during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FDX shares. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Bank of America raised their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. UBS Group upped their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, TD Cowen raised their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Price Performance

NYSE FDX opened at $247.34 on Tuesday. The company has a 50-day moving average price of $279.62 and a two-hundred day moving average price of $282.02. The stock has a market cap of $59.57 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.20. 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 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its 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 the consensus estimate of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.23%. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction 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. This trade represents a 2.25 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now 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. 8.87% of the stock is owned by insiders.

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.