DNB Asset Management AS reduced its stake in FedEx Co. (NYSE:FDX – Get Rating) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,431 shares of the shipping service provider’s stock after selling 14,492 shares during the quarter. DNB Asset Management AS’s holdings in FedEx were worth $12,025,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. My Personal CFO LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $31,000. CFO4Life Group LLC boosted its position in shares of FedEx by 6.6% in the 4th quarter. CFO4Life Group LLC now owns 1,822 shares of the shipping service provider’s stock worth $316,000 after purchasing an additional 113 shares in the last quarter. Moody National Bank Trust Division boosted its position in shares of FedEx by 0.9% in the 4th quarter. Moody National Bank Trust Division now owns 6,410 shares of the shipping service provider’s stock worth $1,110,000 after purchasing an additional 60 shares in the last quarter. Accurate Wealth Management LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $177,000. Finally, Weatherly Asset Management L. P. boosted its position in shares of FedEx by 12.4% in the 4th quarter. Weatherly Asset Management L. P. now owns 7,571 shares of the shipping service provider’s stock worth $1,319,000 after purchasing an additional 836 shares in the last quarter. 72.02% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
FDX has been the topic of a number of analyst reports. UBS Group set a $260.00 price target on FedEx in a research report on Friday. BMO Capital Markets boosted their price objective on shares of FedEx from $180.00 to $210.00 and gave the stock a “market perform” rating in a report on Monday, March 13th. Citigroup boosted their price objective on shares of FedEx from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Friday. Credit Suisse Group boosted their price objective on shares of FedEx from $257.00 to $269.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Evercore ISI boosted their price objective on shares of FedEx from $196.00 to $234.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $230.75.
FedEx Trading Down 1.8 %
FedEx (NYSE:FDX – Get Rating) last issued its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. FedEx had a net margin of 3.23% and a return on equity of 17.71%. The firm had revenue of $22.17 billion during the quarter, compared to the consensus estimate of $22.74 billion. During the same quarter in the previous year, the firm posted $4.59 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that FedEx Co. will post 15 earnings per share for the current year.
FedEx Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, March 10th. FedEx’s dividend payout ratio is currently 39.72%.
Insider Buying and Selling
In other news, Director Amy B. Lane bought 280 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was bought at an average price of $175.83 per share, with a total value of $49,232.40. Following the acquisition, the director now owns 1,529 shares of the company’s stock, valued at approximately $268,844.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.62% of the stock is currently owned by insiders.
About FedEx
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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