FedEx Co. (NYSE:FDX) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,151 shares of the shipping service provider’s stock after selling 41 shares during the period. Verdence Capital Advisors LLC’s holdings in FedEx were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in FedEx during the third quarter worth about $47,000. Catalina Capital Group LLC purchased a new stake in FedEx in the 3rd quarter worth approximately $202,000. Graypoint LLC grew its stake in shares of FedEx by 8.9% during the 3rd quarter. Graypoint LLC now owns 1,726 shares of the shipping service provider’s stock worth $472,000 after purchasing an additional 141 shares during the period. Principal Financial Group Inc. increased its holdings in shares of FedEx by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 256,870 shares of the shipping service provider’s stock valued at $70,300,000 after purchasing an additional 10,063 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in shares of FedEx by 0.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 34,115 shares of the shipping service provider’s stock valued at $9,337,000 after purchasing an additional 154 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % 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 Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $253.80 on Friday. FedEx Co. has a one year low of $242.92 and a one year high of $313.84. The stock has a market cap of $61.13 billion, a PE ratio of 16.18, a P/E/G ratio of 1.11 and a beta of 1.23. 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 50 day moving average price of $266.55 and a 200 day moving average price of $276.26.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $3.99 EPS. Equities research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Analyst Ratings Changes

Several research firms recently commented on FDX. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday. They set a “buy” rating and a $337.00 price target on the stock. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. BMO Capital Markets upped their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $318.58.

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.