Kornitzer Capital Management Inc. KS lessened its holdings in shares of FedEx Co. (NYSE:FDX – Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,694 shares of the shipping service provider’s stock after selling 1,421 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in FedEx were worth $9,198,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IVC Wealth Advisors LLC increased its stake in FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after purchasing an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in FedEx by 3.0% during 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 last quarter. Turtle Creek Wealth Advisors LLC increased its position 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 period. Evermay Wealth Management LLC increased its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Finally, Harbour Investments Inc. increased its position in FedEx by 1.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Stifel Nicolaus decreased their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price target on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $321.87.
FedEx Stock Performance
Shares of FDX opened at $267.35 on Wednesday. The stock’s 50-day simple moving average is $271.93 and its 200 day simple moving average is $278.53. The stock has a market capitalization of $64.39 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. 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 Co. has a 52-week low of $235.32 and a 52-week high of $313.84.
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the company earned $3.99 EPS. The company’s revenue was down .7% on a year-over-year basis. Research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx’s payout ratio is 35.18%.
Insider Buying and Selling
In other FedEx news, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is 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.
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