Princeton Global Asset Management LLC Sells 442 Shares of FedEx Co. (NYSE:FDX)

Princeton Global Asset Management LLC reduced its stake in FedEx Co. (NYSE:FDX) by 55.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354 shares of the shipping service provider’s stock after selling 442 shares during the period. Princeton Global Asset Management LLC’s holdings in FedEx were worth $100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FDX. Fortitude Family Office LLC lifted its holdings in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter worth about $28,000. Finally, R Squared Ltd bought a new position in FedEx during the fourth quarter worth about $31,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FDX shares. Wells Fargo & Company lifted their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Raymond James boosted their price target on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus cut their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Price Performance

FDX stock opened at $247.34 on Tuesday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a market cap of $59.57 billion, a P/E ratio of 15.76, a PEG ratio of 1.10 and a beta of 1.20. The firm has a 50-day moving average of $279.62 and a 200 day moving average of $282.02. 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 announced 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 business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the firm earned $3.99 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling

In other news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction dated 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 directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx 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.