Kornitzer Capital Management Inc. KS Sells 1,421 Shares of FedEx Co. (NYSE:FDX)

Kornitzer Capital Management Inc. KS decreased its holdings in FedEx Co. (NYSE:FDX) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,694 shares of the shipping service provider’s stock after selling 1,421 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in FedEx were worth $9,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC increased its position in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Franklin Resources Inc. grew its position in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares during the period. KBC Group NV increased its holdings in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after buying an additional 226,608 shares during the last quarter. World Investment Advisors LLC raised its position in FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after acquiring an additional 183,940 shares during the period. Finally, Empirical Asset Management LLC bought a new position in FedEx in the fourth quarter worth approximately $49,445,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FDX shares. UBS Group raised their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Raymond James boosted their price objective on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Down 0.2 %

FDX opened at $267.35 on Wednesday. The firm has a 50-day simple moving average of $271.93 and a two-hundred day simple moving average of $278.53. FedEx Co. has a 52 week low of $235.32 and a 52 week high of $313.84. The company has a market capitalization of $64.39 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. The business’s revenue was down .7% on a year-over-year basis. Analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

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.