FedEx Co. (NYSE:FDX) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,390 shares of the shipping service provider’s stock after selling 84 shares during the quarter. Anchor Investment Management LLC’s holdings in FedEx were worth $7,987,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares during the period. Geode Capital Management LLC lifted its holdings in shares of FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after buying an additional 109,006 shares during the period. Franklin Resources Inc. boosted its stake in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after buying an additional 323,115 shares during the last quarter. Invesco Ltd. raised its position in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after acquiring an additional 127,044 shares in the last quarter. Finally, Norges Bank acquired a new position in FedEx in the fourth quarter valued at approximately $807,352,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $210.31 on Tuesday. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. 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 stock has a market cap of $50.39 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The business has a fifty day moving average of $243.22 and a two-hundred day moving average of $265.34.

FedEx (NYSE:FDX) last issued 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the firm posted $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 34.63%.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FDX. Raymond James cut their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and lowered their price target for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.63.

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.