Clarkston Capital Partners LLC Has $96.38 Million Holdings in FedEx Co. (NYSE:FDX)

Clarkston Capital Partners LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 342,598 shares of the shipping service provider’s stock after selling 5,410 shares during the period. FedEx makes up approximately 1.8% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 19th largest holding. Clarkston Capital Partners LLC’s holdings in FedEx were worth $96,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. bought a new stake in shares of FedEx during the fourth quarter worth $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in FedEx during the 4th quarter worth about $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FDX shares. Citigroup reduced their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Barclays lowered their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Stifel Nicolaus decreased their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, TD Cowen cut their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 in the last quarter. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 2.8 %

NYSE FDX opened at $209.90 on Friday. FedEx Co. has a fifty-two week low of $203.90 and a fifty-two week high of $313.84. The business has a fifty day moving average price of $252.45 and a two-hundred day moving average price of $268.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $50.29 billion, a PE ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24.

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

FedEx Announces Dividend

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

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.