Commerce Bank Has $5.91 Million Stake in FedEx Co. (NYSE:FDX)

Commerce Bank lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,017 shares of the shipping service provider’s stock after selling 381 shares during the period. Commerce Bank’s holdings in FedEx were worth $5,913,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FDX. Regal Investment Advisors LLC increased its stake in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after acquiring an additional 38 shares during the period. Cetera Trust Company N.A grew its holdings in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. increased its position in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares during the period. Aviso Financial Inc. raised its stake in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares in the last quarter. Finally, Garner Asset Management Corp lifted its position in FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after purchasing an additional 41 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several analyst reports. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and dropped their target price for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Raymond James cut their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. BMO Capital Markets decreased their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Bank of America dropped their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and lowered their target price for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

FedEx Trading Up 1.9 %

FDX opened at $207.45 on Friday. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a fifty day moving average of $239.05 and a 200-day moving average of $263.61. The stock has a market cap of $49.71 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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 issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Monday, March 10th. FedEx’s payout ratio is 34.63%.

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.