FedEx Co. (NYSE:FDX) Shares Sold by SFE Investment Counsel

SFE Investment Counsel reduced its stake in shares of FedEx Co. (NYSE:FDX) by 3.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,961 shares of the shipping service provider’s stock after selling 426 shares during the quarter. SFE Investment Counsel’s holdings in FedEx were worth $3,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in shares of FedEx in the third quarter valued at about $97,000. CX Institutional boosted its holdings in shares of FedEx by 7.6% in the 3rd quarter. CX Institutional now owns 2,552 shares of the shipping service provider’s stock valued at $698,000 after acquiring an additional 180 shares during the last quarter. Creative Planning raised its holdings in shares of FedEx by 15.7% during the third quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock worth $22,237,000 after purchasing an additional 11,081 shares during the last quarter. Swedbank AB lifted its position in FedEx by 0.4% during the third quarter. Swedbank AB now owns 111,426 shares of the shipping service provider’s stock valued at $30,495,000 after purchasing an additional 403 shares during the period. Finally, Opal Wealth Advisors LLC lifted its position in FedEx by 12.3% during the third quarter. Opal Wealth Advisors LLC now owns 2,321 shares of the shipping service provider’s stock valued at $635,000 after purchasing an additional 254 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FDX shares. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets raised their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Price Performance

FedEx stock opened at $262.96 on Thursday. The company has a fifty day simple moving average of $272.98 and a 200-day simple moving average of $279.56. The firm has a market capitalization of $63.33 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.07 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 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 quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (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 in the prior year, the company earned $3.99 EPS. FedEx’s revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.10%. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In other news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction 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. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Company 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.