FedEx Co. (NYSE:FDX) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. trimmed its holdings in FedEx Co. (NYSE:FDX) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 926 shares of the shipping service provider’s stock after selling 37 shares during the quarter. Grimes & Company Inc.’s holdings in FedEx were worth $261,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. IVC Wealth Advisors LLC boosted its stake in FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after acquiring an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC grew its stake in FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after buying an additional 39 shares during the last quarter. Buckley Wealth Management LLC increased its position in FedEx by 1.0% during the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after buying an additional 40 shares during the period. Finally, Evermay Wealth Management LLC lifted its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on FDX. Stifel Nicolaus decreased their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. UBS Group boosted their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their price objective on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Trading Up 1.1 %

Shares of FDX stock opened at $273.12 on Monday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a market capitalization of $65.78 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The stock has a fifty day moving average of $281.64 and a two-hundred day moving average of $283.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the prior year, the firm posted $3.99 EPS. FedEx’s revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given 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 2.02%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’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 completion of the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

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.