Northern Trust Corp cut its stake in FedEx Co. (NYSE:FDX – Get Rating) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,660,937 shares of the shipping service provider’s stock after selling 86,721 shares during the quarter. Northern Trust Corp’s holdings in FedEx were worth $688,225,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in FedEx by 6.5% in the third quarter. Geode Capital Management LLC now owns 3,909,705 shares of the shipping service provider’s stock valued at $854,771,000 after acquiring an additional 236,940 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FedEx by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,372,731 shares of the shipping service provider’s stock valued at $520,369,000 after buying an additional 35,351 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of FedEx by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,261,999 shares of the shipping service provider’s stock valued at $496,034,000 after buying an additional 583,900 shares in the last quarter. Morgan Stanley increased its position in shares of FedEx by 0.9% in the third quarter. Morgan Stanley now owns 1,877,642 shares of the shipping service provider’s stock valued at $411,750,000 after buying an additional 17,500 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of FedEx by 6.1% in the third quarter. Invesco Ltd. now owns 1,589,016 shares of the shipping service provider’s stock valued at $348,455,000 after buying an additional 91,955 shares in the last quarter. 77.76% of the stock is owned by institutional investors.
In related news, Director Paul S. Walsh sold 3,720 shares of FedEx stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $206.42, for a total value of $767,882.40. Following the completion of the sale, the director now owns 14,000 shares in the company, valued at approximately $2,889,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.16% of the stock is currently owned by company insiders.
FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The shipping service provider reported $4.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.64 by ($0.05). FedEx had a net margin of 5.60% and a return on equity of 20.67%. The firm had revenue of $23.64 billion for the quarter, compared to analysts’ expectations of $23.33 billion. During the same period in the previous year, the firm posted $3.47 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 20.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Monday, March 7th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 4th. This represents a $3.00 annualized dividend and a yield of 1.46%. FedEx’s dividend payout ratio (DPR) is presently 15.75%.
A number of analysts have recently commented on the company. The Goldman Sachs Group set a $343.00 price objective on FedEx in a research report on Monday, January 24th. StockNews.com upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research report on Friday. Robert W. Baird restated an “outperform” rating and issued a $300.00 price objective on shares of FedEx in a research report on Monday, March 21st. Morgan Stanley dropped their price target on FedEx from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, March 18th. Finally, Citigroup dropped their price target on FedEx from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $299.55.
FedEx Company Profile (Get Rating)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
- Get a free copy of the StockNews.com research report on FedEx (FDX)
- Synchrony Financial Stock is Ready to Slingshot Back Up
- Why These 3 Stocks Matter Most in the Dow
- Cisco Systems Stock Bestows Another Buy the Dip Opportunity
- 3 Stocks Near 52-Week Highs That Still Look Cheap
- Is Cleveland-Cliffs Stock a Safe Bet After Earnings?
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.