Crestline Management LP Cuts Position in FedEx Co. (NYSE:FDX)

Crestline Management LP reduced its stake in FedEx Co. (NYSE:FDX - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,208 shares of the shipping service provider's stock after selling 10,269 shares during the period. Crestline Management LP's holdings in FedEx were worth $4,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FDX. Norges Bank bought a new position in FedEx in the 4th quarter valued at about $807,352,000. Raymond James Financial Inc. acquired a new stake in FedEx in the fourth quarter valued at approximately $234,028,000. Dodge & Cox increased its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Capital Research Global Investors bought a new stake in FedEx during the 4th quarter worth $145,733,000. Finally, ACR Alpine Capital Research LLC raised its position in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FDX shares. Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Bank of America lowered their target price on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research report on Friday, March 21st. UBS Group decreased their price target on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research note on Friday, March 21st. BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $297.71.

FedEx Stock Performance

NYSE:FDX traded down $1.54 during trading on Friday, reaching $217.67. The company's stock had a trading volume of 1,166,869 shares, compared to its average volume of 1,790,212. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a market cap of $52.15 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The firm has a 50 day moving average of $224.70 and a 200-day moving average of $258.09. 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 (NYSE:FDX - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.86 EPS. Research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is currently 34.63%.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.87% of the company's stock.

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.