Baxter Bros Inc. Decreases Position in FedEx Co. (NYSE:FDX)

Baxter Bros Inc. decreased its position in FedEx Co. (NYSE:FDX) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,657 shares of the shipping service provider’s stock after selling 125 shares during the period. Baxter Bros Inc.’s holdings in FedEx were worth $2,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter worth about $28,000. City Holding Co. purchased a new position in shares of FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co bought a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by institutional investors.

Insider Activity

In other FedEx news, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value 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. This represents 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.

FedEx Price Performance

Shares of FedEx stock opened at $242.27 on Tuesday. The company has a market cap of $58.35 billion, a PE ratio of 15.44, a P/E/G ratio of 1.11 and a beta of 1.23. The business has a 50 day moving average of $259.31 and a 200 day moving average of $272.04. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. 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 earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 EPS. As a group, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced 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 is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s dividend payout ratio is currently 34.63%.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent research reports. Citigroup dropped their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and reduced their price objective for the company from $283.00 to $221.00 in a research note on Friday. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $300.60.

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.