FedEx Co. (NYSE:FDX) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,453 shares of the shipping service provider’s stock after selling 1,389 shares during the period. Cannell & Spears LLC’s holdings in FedEx were worth $33,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx during the fourth quarter worth approximately $28,000. City Holding Co. purchased a new stake in FedEx during the 4th quarter worth $28,000. Kentucky Trust Co acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new position in FedEx in the 4th quarter worth $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 0.9 %

Shares of FedEx stock opened at $241.75 on Monday. 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 Co. has a 12-month low of $217.22 and a 12-month high of $313.84. The firm has a market capitalization of $57.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock’s fifty day moving average is $256.59 and its 200-day moving average is $270.89.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.86 earnings per share. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 34.63%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FDX shares. Wells Fargo & Company cut their price objective on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. UBS Group reduced their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Stephens reduced their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Finally, Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is currently owned by company insiders.

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.