Envestnet Portfolio Solutions Inc. Cuts Stock Position in FedEx Co. (NYSE:FDX)

Envestnet Portfolio Solutions Inc. lowered its position in FedEx Co. (NYSE:FDX) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,550 shares of the shipping service provider’s stock after selling 1,795 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in FedEx were worth $5,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. Raymond James Financial Inc. purchased a new position in shares of FedEx in the 4th quarter worth approximately $234,028,000. ACR Alpine Capital Research LLC grew its position in FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC grew its position in FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after purchasing an additional 321,141 shares during the last quarter. Franklin Resources Inc. grew its position in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Finally, KBC Group NV grew its position in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $245.58 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a fifty day moving average of $261.87 and a two-hundred day moving average of $273.48. The stock has a market capitalization of $59.15 billion, a PE ratio of 15.65, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping 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 company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the prior year, the business posted $3.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FDX. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.48.

FedEx Company 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.