Oppenheimer Asset Management Inc. Has $41.56 Million Stock Position in FedEx Co. (NYSE:FDX)

Oppenheimer Asset Management Inc. decreased its stake in FedEx Co. (NYSE:FDX) by 10.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 147,734 shares of the shipping service provider’s stock after selling 18,089 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in FedEx were worth $41,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Citizens Financial Group Inc. RI grew its position in FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares during the period. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Harbour Investments Inc. lifted its stake in shares of FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after purchasing an additional 40 shares during the period. Finally, Cetera Trust Company N.A lifted its stake in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $256.09 on Thursday. The firm has a market cap of $61.68 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The stock has a fifty day simple moving average of $269.38 and a two-hundred day simple moving average of $277.65. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the business posted $3.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.16%. FedEx’s dividend payout ratio is presently 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Bank of America upped their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, UBS Group upped their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

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.