L & S Advisors Inc Has $2.47 Million Stake in FedEx Co. (NYSE:FDX)

L & S Advisors Inc cut its position in shares of FedEx Co. (NYSE:FDX) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,766 shares of the shipping service provider’s stock after selling 487 shares during the quarter. L & S Advisors Inc’s holdings in FedEx were worth $2,466,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in FedEx by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the period. Geode Capital Management LLC grew its stake in FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the period. Franklin Resources Inc. increased its holdings in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Norges Bank acquired a new position in FedEx in the fourth quarter valued at approximately $807,352,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $241.75 on Friday. The stock has a market cap of $57.92 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. 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 company’s 50 day moving average price is $256.59 and its two-hundred day moving average price is $270.98. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84.

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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the business posted $3.86 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 34.63%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FDX. TD Cowen lowered their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Loop Capital downgraded 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 research note on Friday, March 21st. BMO Capital Markets cut their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 12,711 shares of company stock worth $3,312,693 over the last three months. 8.87% of the stock is currently owned by insiders.

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.