Cox Capital Mgt LLC Sells 2,065 Shares of FedEx Co. (NYSE:FDX)

Cox Capital Mgt LLC trimmed its position in FedEx Co. (NYSE:FDX – Get Rating) by 18.9% during the 4th quarter, HoldingsChannel reports. The firm owned 8,881 shares of the shipping service provider’s stock after selling 2,065 shares during the quarter. Cox Capital Mgt LLC’s holdings in FedEx were worth $1,538,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wedbush Securities Inc. increased its holdings in shares of FedEx by 26.7% in the third quarter. Wedbush Securities Inc. now owns 8,998 shares of the shipping service provider’s stock worth $1,336,000 after purchasing an additional 1,898 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of FedEx by 12.4% in the third quarter. Janney Montgomery Scott LLC now owns 112,949 shares of the shipping service provider’s stock worth $16,770,000 after purchasing an additional 12,455 shares during the last quarter. Raymond James & Associates increased its holdings in shares of FedEx by 5.8% in the third quarter. Raymond James & Associates now owns 348,770 shares of the shipping service provider’s stock worth $51,784,000 after purchasing an additional 19,145 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of FedEx by 14.3% in the third quarter. Benjamin Edwards Inc. now owns 2,697 shares of the shipping service provider’s stock worth $400,000 after purchasing an additional 337 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of FedEx by 4.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 793,357 shares of the shipping service provider’s stock worth $117,790,000 after purchasing an additional 32,968 shares during the last quarter. 72.02% of the stock is owned by institutional investors.

FedEx Trading Up 8.0 %

Shares of NYSE FDX traded up $16.26 during trading hours on Friday, reaching $220.31. The stock had a trading volume of 12,660,474 shares, compared to its average volume of 2,076,000. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a market cap of $55.61 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.22 and a beta of 1.31. The business’s fifty day moving average price is $201.14 and its two-hundred day moving average price is $181.63. FedEx Co. has a 52-week low of $141.92 and a 52-week high of $248.76.

FedEx (NYSE:FDX – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. The firm had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.74 billion. FedEx had a return on equity of 19.17% and a net margin of 3.54%. FedEx’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.59 earnings per share. Analysts expect that FedEx Co. will post 13.53 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, March 10th. This represents a $4.60 dividend on an annualized basis and a yield of 2.09%. FedEx’s dividend payout ratio is currently 36.14%.

Analysts Set New Price Targets

FDX has been the topic of several analyst reports. Robert W. Baird boosted their price objective on FedEx from $230.00 to $250.00 in a research note on Friday. Wells Fargo & Company boosted their price objective on FedEx from $225.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on FedEx from $199.00 to $233.00 in a research note on Friday. Stephens boosted their price objective on FedEx from $200.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Stifel Nicolaus boosted their price objective on FedEx from $222.00 to $242.00 in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $230.75.

Insiders Place Their Bets

In related news, Director Amy B. Lane bought 280 shares of the stock in a transaction on Tuesday, January 3rd. The stock was bought at an average price of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the acquisition, the director now directly owns 1,529 shares in the company, valued at $268,844.07. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.62% of the stock is owned by company insiders.

FedEx Profile

(Get Rating)

FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.