FedEx Co. (NYSE:FDX) Shares Sold by Mariner LLC

Mariner LLC cut its position in FedEx Co. (NYSE:FDX) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,031 shares of the shipping service provider’s stock after selling 1,562 shares during the quarter. Mariner LLC’s holdings in FedEx were worth $28,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Garner Asset Management Corp lifted its holdings in FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after purchasing an additional 41 shares during the period. SageView Advisory Group LLC raised its position in shares of FedEx by 43.8% during the 4th quarter. SageView Advisory Group LLC now owns 1,611 shares of the shipping service provider’s stock worth $453,000 after buying an additional 491 shares in the last quarter. Keystone Financial Group lifted its stake in shares of FedEx by 157.7% in the 4th quarter. Keystone Financial Group now owns 3,711 shares of the shipping service provider’s stock worth $998,000 after acquiring an additional 2,271 shares during the period. Bragg Financial Advisors Inc boosted its holdings in shares of FedEx by 13.9% in the fourth quarter. Bragg Financial Advisors Inc now owns 1,743 shares of the shipping service provider’s stock valued at $490,000 after acquiring an additional 213 shares in the last quarter. Finally, Advisors Capital Management LLC increased its stake in shares of FedEx by 12.4% during the fourth quarter. Advisors Capital Management LLC now owns 2,316 shares of the shipping service provider’s stock valued at $652,000 after acquiring an additional 256 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred 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 approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $207.36 on Wednesday. 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 $49.68 billion, a PE ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The business has a 50-day simple moving average of $242.19 and a two-hundred day simple moving average of $264.94.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal 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 given a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.66%. FedEx’s dividend payout ratio (DPR) is currently 34.63%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wells Fargo & Company reduced their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Barclays dropped their target price on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Stifel Nicolaus dropped their price target on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

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.