Parkside Investments LLC Sells 6,671 Shares of FedEx Co. (NYSE:FDX)

Parkside Investments LLC decreased its holdings in FedEx Co. (NYSE:FDX) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,995 shares of the shipping service provider’s stock after selling 6,671 shares during the period. Parkside Investments LLC’s holdings in FedEx were worth $6,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in FedEx by 9.4% during the second quarter. AQR Capital Management LLC now owns 92,093 shares of the shipping service provider’s stock worth $27,432,000 after buying an additional 7,940 shares during the period. Dark Forest Capital Management LP raised its position in FedEx by 4.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 1,180 shares of the shipping service provider’s stock worth $354,000 after purchasing an additional 53 shares during the period. MidWestOne Financial Group Inc. lifted its stake in FedEx by 43.3% in the second quarter. MidWestOne Financial Group Inc. now owns 2,221 shares of the shipping service provider’s stock worth $666,000 after purchasing an additional 671 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of FedEx by 12.8% in the second quarter. SkyView Investment Advisors LLC now owns 1,799 shares of the shipping service provider’s stock worth $539,000 after buying an additional 204 shares during the period. Finally, Creative Planning lifted its stake in shares of FedEx by 3.8% during the 2nd quarter. Creative Planning now owns 70,615 shares of the shipping service provider’s stock worth $21,173,000 after acquiring an additional 2,563 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Wells Fargo & Company increased their price objective on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.43.

FedEx Trading Up 1.1 %

Shares of NYSE:FDX opened at $273.12 on Monday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a market capitalization of $65.78 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business’s 50-day moving average is $281.64 and its 200 day moving average is $283.13.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.02%. FedEx’s payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

About FedEx

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.