FedEx Co. (NYSE:FDX) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,089 shares of the shipping service provider’s stock after selling 1,000 shares during the period. Cohen Klingenstein LLC’s holdings in FedEx were worth $9,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. Geode Capital Management LLC lifted its position in shares of FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares during the period. Ameriprise Financial Inc. increased its stake in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $275.11 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $66.26 billion, a PE ratio of 17.53, a PEG ratio of 1.12 and a beta of 1.20. The firm has a 50 day moving average of $283.70 and a 200-day moving average of $284.20. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results 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. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the business posted $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ 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 Analysts Forecast Growth

Several equities analysts have weighed in on FDX shares. Stephens cut their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Wells Fargo & Company upped their price target on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Raymond James increased their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $325.61.

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.