FedEx Co. (NYSE:FDX) Stake Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its stake in FedEx Co. (NYSE:FDX) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 615,729 shares of the shipping service provider’s stock after selling 14,153 shares during the quarter. Wells Fargo & Company MN’s holdings in FedEx were worth $173,223,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in FedEx during the 4th quarter valued at about $807,352,000. Raymond James Financial Inc. acquired a new position in shares of FedEx during the fourth quarter worth approximately $234,028,000. ACR Alpine Capital Research LLC grew its holdings in FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares in the last quarter. Franklin Resources Inc. increased its position in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after acquiring an additional 323,115 shares during the period. Finally, Bryn Mawr Capital Management LLC boosted its position in FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after acquiring an additional 321,141 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $209.90 on Friday. FedEx Co. has a 1-year low of $203.90 and a 1-year high of $313.84. The firm has a market cap of $50.29 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $252.45 and a 200-day moving average of $268.95.

FedEx (NYSE:FDX) last announced 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the firm earned $3.86 EPS. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Activity

In related news, 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 of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 12,711 shares of company stock worth $3,312,693 over the last quarter. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and dropped their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. TD Cowen cut their target price on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Stephens lowered their price target on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

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.