BTC Capital Management Inc. Reduces Stake in FedEx Co. (NYSE:FDX)

BTC Capital Management Inc. lowered its holdings in FedEx Co. (NYSE:FDX) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,398 shares of the shipping service provider’s stock after selling 310 shares during the quarter. BTC Capital Management Inc.’s holdings in FedEx were worth $7,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the period. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx in the 4th quarter worth $28,000. City Holding Co. bought a new position in shares of FedEx in the 4th quarter worth $28,000. Finally, R Squared Ltd bought a new position in shares of FedEx in the 4th quarter worth $31,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at approximately $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 owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Citigroup increased their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.43.

FedEx Stock Down 2.1 %

Shares of FedEx stock opened at $269.39 on Friday. The firm has a market cap of $64.88 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.14 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a 50-day moving average of $280.32 and a 200 day moving average of $282.72.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $3.99 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.05%. FedEx’s dividend payout ratio is currently 35.18%.

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.