Tower Bridge Advisors Sells 521 Shares of FedEx Co. (NYSE:FDX)

Tower Bridge Advisors decreased its position in shares of FedEx Co. (NYSE:FDX) by 2.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,194 shares of the shipping service provider’s stock after selling 521 shares during the quarter. Tower Bridge Advisors’ holdings in FedEx were worth $5,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Fortitude Family Office LLC grew its position 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 worth $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new position in shares of FedEx during the 4th quarter worth $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter worth $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the 4th quarter worth $29,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FDX shares. Barclays increased their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Stephens dropped their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company raised their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Trading Up 1.8 %

Shares of NYSE:FDX opened at $263.11 on Friday. FedEx Co. has a 52-week low of $242.92 and a 52-week high of $313.84. The stock has a market cap of $63.37 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.11 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $268.78 and a 200-day moving average price of $277.40.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

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.