Sanibel Captiva Trust Company Inc. Sells 3,899 Shares of FedEx Co. (NYSE:FDX)

Sanibel Captiva Trust Company Inc. cut its position in FedEx Co. (NYSE:FDX - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,000 shares of the shipping service provider's stock after selling 3,899 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in FedEx were worth $4,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $26,000. Kentucky Trust Co acquired a new stake in FedEx in the 4th quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the 4th quarter valued at $28,000. Runnymede Capital Advisors Inc. bought a new stake in FedEx during the 4th quarter valued at $32,000. Finally, Accredited Wealth Management LLC acquired a new position in FedEx during the fourth quarter worth $35,000. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 target price for the company. Barclays decreased their price objective on FedEx from $350.00 to $330.00 and set an "overweight" rating for the company in a report on Tuesday, June 3rd. Stifel Nicolaus dropped their target price on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and decreased their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Finally, Bank of America lowered their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $292.54.

FedEx Trading Down 0.5%

NYSE:FDX traded down $1.05 during trading hours on Friday, hitting $223.95. The company had a trading volume of 1,888,309 shares, compared to its average volume of 1,849,503. 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 50-day moving average price of $216.29 and a 200 day moving average price of $247.91. The company has a market capitalization of $53.66 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results 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 net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the firm posted $3.86 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.59%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio is presently 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.