Gotham Asset Management LLC decreased its holdings in FedEx Co. (NYSE:FDX - Free Report) by 23.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,421 shares of the shipping service provider's stock after selling 10,985 shares during the period. Gotham Asset Management LLC's holdings in FedEx were worth $10,246,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in FedEx during the fourth quarter valued at about $26,000. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. purchased a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. 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 report on Friday, March 21st. Barclays dropped their target price on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Bank of America decreased their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research note on Tuesday. Raymond James lowered their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Cfra Research upgraded shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $297.63.
Read Our Latest Research Report on FedEx
FedEx Stock Performance
FDX stock traded down $0.20 during midday trading on Thursday, hitting $231.60. 2,441,668 shares of the stock traded hands, compared to its average volume of 1,802,372. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The stock's fifty day simple moving average is $223.52 and its 200-day simple moving average is $257.28. The firm has a market cap of $55.49 billion, a P/E ratio of 14.76, a PEG ratio of 1.11 and a beta of 1.36.
FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the company posted $3.86 earnings per share. The business's revenue was up 1.9% on a year-over-year basis. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.38%. FedEx's dividend payout ratio is presently 34.63%.
Insider Buying and Selling at FedEx
In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.87% of the stock is owned by insiders.
About FedEx
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Free Report)
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.
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