Bank of New York Mellon Corp Cuts Holdings in FedEx Co. (NYSE:FDX)

Bank of New York Mellon Corp lowered its holdings in FedEx Co. (NYSE:FDX) by 7.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,406,196 shares of the shipping service provider’s stock after selling 187,073 shares during the period. Bank of New York Mellon Corp’s holdings in FedEx were worth $676,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bryn Mawr Capital Management LLC raised its position in FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after buying an additional 321,141 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. KBC Group NV lifted its position in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares during the period. World Investment Advisors LLC boosted its holdings in FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new stake in FedEx in the 4th quarter worth approximately $49,445,000. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Amy B. Lane bought 333 shares of FedEx 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 acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FDX shares. BMO Capital Markets increased their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. UBS Group increased their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Finally, Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and cut their target price for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Stock Performance

NYSE FDX opened at $256.31 on Wednesday. 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 twelve month low of $239.07 and a twelve month high of $313.84. The business has a 50-day moving average price of $269.72 and a 200-day moving average price of $277.80. The firm has a market cap of $61.73 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.99 EPS. As a group, equities research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.15%. FedEx’s dividend payout ratio is currently 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.