Legato Capital Management LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

Legato Capital Management LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 33.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,544 shares of the shipping service provider’s stock after selling 2,789 shares during the quarter. Legato Capital Management LLC’s holdings in FedEx were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of FedEx during the third quarter worth about $3,405,000. Wedmont Private Capital boosted its position in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the last quarter. GFS Advisors LLC purchased a new stake in FedEx in the 4th quarter worth approximately $26,855,000. Persium Advisors LLC acquired a new position in FedEx in the 4th quarter valued at $530,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of FedEx by 137.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock worth $64,133,000 after purchasing an additional 132,036 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price target on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays raised their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus dropped their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Trading Up 0.7 %

FDX opened at $262.96 on Thursday. The firm’s 50 day moving average is $273.38 and its 200-day moving average is $279.68. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. 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 firm has a market capitalization of $63.33 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 EPS. 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 was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

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.