Pitcairn Co. Sells 2,097 Shares of FedEx Co. (FDX)

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Pitcairn Co. lessened its holdings in FedEx Co. (NYSE:FDX) by 47.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,336 shares of the shipping service provider’s stock after selling 2,097 shares during the period. Pitcairn Co.’s holdings in FedEx were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Northwest Wealth Management LLC raised its holdings in shares of FedEx by 842.1% in the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock valued at $29,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of FedEx by 1,666.7% in the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter valued at $43,000. Burt Wealth Advisors raised its holdings in shares of FedEx by 102.2% in the 4th quarter. Burt Wealth Advisors now owns 277 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 140 shares in the last quarter. Finally, Athena Capital Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter valued at $55,000. 71.39% of the stock is owned by institutional investors.

Several equities research analysts recently commented on FDX shares. Loop Capital cut their price target on shares of FedEx to $262.00 in a research note on Wednesday, December 19th. Citigroup cut their price target on shares of FedEx from $275.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Deutsche Bank cut their price target on shares of FedEx from $293.00 to $212.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $256.00 price target on shares of FedEx in a research note on Tuesday, December 18th. Finally, Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $226.00 price target on the stock in a research note on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $235.00.

NYSE FDX opened at $179.08 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $46.86 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.63. FedEx Co. has a one year low of $150.94 and a one year high of $266.67.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.02). The business had revenue of $17.82 billion during the quarter, compared to analyst estimates of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same quarter in the prior year, the firm posted $3.18 earnings per share. Equities analysts anticipate that FedEx Co. will post 15.91 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.45%. FedEx’s dividend payout ratio is presently 16.98%.

In other news, Director David P. Steiner bought 7,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were acquired at an average price of $162.92 per share, with a total value of $1,140,440.00. Following the completion of the acquisition, the director now directly owns 25,994 shares in the company, valued at $4,234,942.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the sale, the vice president now directly owns 30,185 shares in the company, valued at approximately $5,500,914.40. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

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FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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