FedEx Co. (NYSE:FDX) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 2.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,756 shares of the shipping service provider’s stock after selling 121 shares during the period. Thoroughbred Financial Services LLC’s holdings in FedEx were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Fortitude Family Office LLC raised its holdings in shares of 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 purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the 4th quarter valued at about $28,000. City Holding Co. acquired a new position in shares of FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter worth about $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx in the fourth quarter worth about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 2.8 %

Shares of FDX opened at $209.90 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $252.45 and a 200 day moving average price of $269.15. FedEx Co. has a 12-month low of $203.90 and a 12-month high of $313.84. The firm has a market capitalization of $50.29 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.86 EPS. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FDX. UBS Group decreased their price target on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a report on Friday, March 21st. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. dropped their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling

In related news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction 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 transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by 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.