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.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by Zolmax and is owned by of Zolmax. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright and trademark laws. The original version of this report can be viewed at https://zolmax.com/investing/pitcairn-co-sells-2097-shares-of-fedex-co-fdx/2965499.html.
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.
Featured Story: How are the companies in the S&P 500 selected?
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.