Sei Investments Co. Trims Stake in FedEx Co. (NYSE:FDX)

Sei Investments Co. lowered its position in FedEx Co. (NYSE:FDX) by 37.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,788 shares of the shipping service provider’s stock after selling 67,423 shares during the period. Sei Investments Co.’s holdings in FedEx were worth $31,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. bLong Financial LLC purchased a new position in FedEx during the 4th quarter valued at $391,000. Virtu Financial LLC bought a new stake in shares of FedEx during the third quarter worth $3,405,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $461,000. Wedmont Private Capital grew its holdings in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after purchasing an additional 91 shares during the last quarter. Finally, GFS Advisors LLC purchased a new position in FedEx in the 4th quarter worth about $26,855,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $241.19 on Wednesday. The stock’s fifty day moving average price is $258.58 and its 200 day moving average price is $271.75. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. 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 company has a market cap of $58.09 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.86 earnings per share. As a group, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is currently 34.63%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and lowered their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Citigroup lowered their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. TD Cowen reduced their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price for the company. Finally, BMO Capital Markets dropped their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $300.60.

Insider Buying and Selling

In related news, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

About FedEx

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.