FedEx Co. (NYSE:FDX) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in FedEx Co. (NYSE:FDX) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,514 shares of the shipping service provider’s stock after selling 5,993 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in FedEx were worth $155,157,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FDX. Atomi Financial Group Inc. lifted its position in shares of FedEx by 11.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,184 shares of the shipping service provider’s stock worth $324,000 after buying an additional 120 shares during the last quarter. Brookstone Capital Management raised its stake in FedEx by 8.2% during the third quarter. Brookstone Capital Management now owns 5,450 shares of the shipping service provider’s stock worth $1,492,000 after acquiring an additional 415 shares during the period. CWM LLC lifted its holdings in FedEx by 13.1% in the third quarter. CWM LLC now owns 8,562 shares of the shipping service provider’s stock worth $2,343,000 after acquiring an additional 991 shares during the last quarter. Marcum Wealth LLC boosted its stake in FedEx by 5.6% in the third quarter. Marcum Wealth LLC now owns 1,095 shares of the shipping service provider’s stock valued at $300,000 after acquiring an additional 58 shares during the period. Finally, Perpetual Ltd grew its holdings in shares of FedEx by 78.9% during the third quarter. Perpetual Ltd now owns 5,047 shares of the shipping service provider’s stock valued at $1,381,000 after purchasing an additional 2,226 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on FDX shares. Stephens reduced their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company boosted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Stock Down 1.1 %

NYSE FDX opened at $256.01 on Friday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a market capitalization of $61.66 billion, a P/E ratio of 16.32, a PEG ratio of 1.10 and a beta of 1.18. The company’s 50 day simple moving average is $275.52 and its 200 day simple moving average is $280.86. 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 (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.99 earnings per share. Equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.16%. FedEx’s dividend payout ratio is currently 35.18%.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following 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. Corporate insiders own 8.87% of the company’s stock.

About FedEx

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.