Rhumbline Advisers Decreases Stock Position in FedEx Co. (NYSE:FDX)

Rhumbline Advisers lowered its stake in FedEx Co. (NYSE:FDX) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 449,889 shares of the shipping service provider’s stock after selling 4,272 shares during the period. Rhumbline Advisers owned approximately 0.19% of FedEx worth $126,567,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FDX. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its stake in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. Finally, Kentucky Trust Co bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $267.83 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The firm has a market cap of $64.51 billion, a P/E ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. The company has a 50 day moving average of $272.40 and a 200 day moving average of $279.23. 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 (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $22.14 billion. During the same period 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. As a group, research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s dividend payout ratio is presently 35.18%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FDX shares. Citigroup raised their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus cut their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets lifted their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Loop Capital cut FedEx from a “buy” rating to a “hold” rating and cut their price objective for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx 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.