FedEx Co. (NYSE:FDX) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its stake in FedEx Co. (NYSE:FDX) by 0.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,233 shares of the shipping service provider’s stock after selling 112 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in FedEx were worth $4,567,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new stake in FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in FedEx during the 4th quarter worth approximately $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FDX. Cfra Research raised FedEx to a “hold” rating in a research report on Thursday, March 20th. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and dropped their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and decreased their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock valued at $3,312,693 in the last quarter. Insiders own 8.87% of the company’s stock.

FedEx Trading Down 0.9 %

FedEx stock opened at $241.75 on Friday. FedEx Co. has a 12-month low of $217.22 and a 12-month 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 stock has a market capitalization of $57.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50 day simple moving average of $256.59 and a 200-day simple moving average of $270.98.

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 the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 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.