Evergreen Capital Management LLC Sells 1,616 Shares of FedEx Co. (NYSE:FDX)

Evergreen Capital Management LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,438 shares of the shipping service provider’s stock after selling 1,616 shares during the quarter. Evergreen Capital Management LLC’s holdings in FedEx were worth $10,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. bLong Financial LLC bought a new position in FedEx in the fourth quarter valued at about $391,000. Virtu Financial LLC purchased a new position in shares of FedEx in the third quarter worth approximately $3,405,000. Lodestone Wealth Management LLC bought a new stake in FedEx during the fourth quarter valued at approximately $461,000. Wedmont Private Capital increased its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC bought a new position in FedEx in the fourth quarter worth approximately $26,855,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDX. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and cut their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and reduced their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Barclays cut their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.63.

FedEx Trading Down 1.5 %

Shares of FDX stock opened at $207.36 on Wednesday. The company has a market cap of $49.68 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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’s 50 day simple moving average is $242.19 and its two-hundred day simple moving average is $264.94. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the prior year, the business earned $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on 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 directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.87% of the company’s stock.

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.