FedEx Co. (NYSE:FDX) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,004 shares of the shipping service provider's stock after selling 14,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.10% of FedEx worth $67,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in FedEx in the 4th quarter worth about $807,352,000. Raymond James Financial Inc. bought a new position in FedEx in the 4th quarter worth about $234,028,000. Dodge & Cox grew its stake in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. Capital Research Global Investors bought a new position in FedEx in the 4th quarter worth about $145,733,000. Finally, ACR Alpine Capital Research LLC grew its stake in FedEx by 62.9% in 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 acquiring an additional 329,170 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays dropped their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. BNP Paribas upgraded shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and dropped their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Finally, UBS Group dropped their price objective on shares of FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $297.71.

FedEx Stock Performance

NYSE FDX traded down $2.73 on Tuesday, reaching $208.78. 634,616 shares of the company's stock traded hands, compared to its average volume of 1,773,915. The stock has a 50 day moving average price of $232.36 and a 200-day moving average price of $261.42. The firm has a market cap of $50.02 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.11 and a beta of 1.24. 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 fifty-two week low of $194.30 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the previous year, the company earned $3.86 EPS. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.64%. FedEx's payout ratio is 34.63%.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.87% of the company's stock.

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.