FedEx Co. (NYSE:FDX) Shares Sold by TCW Group Inc.

TCW Group Inc. trimmed its position in FedEx Co. (NYSE:FDX) by 22.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,151 shares of the shipping service provider’s stock after selling 7,159 shares during the quarter. TCW Group Inc.’s holdings in FedEx were worth $7,076,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pinnacle Financial Partners Inc raised its stake in FedEx by 1.9% in the fourth quarter. Pinnacle Financial Partners Inc now owns 8,120 shares of the shipping service provider’s stock valued at $2,243,000 after buying an additional 149 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of FedEx by 3.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 5,761 shares of the shipping service provider’s stock valued at $1,621,000 after acquiring an additional 203 shares during the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of FedEx by 14.3% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 4,800 shares of the shipping service provider’s stock worth $1,350,000 after acquiring an additional 600 shares in the last quarter. ING Groep NV lifted its stake in FedEx by 131.3% during the fourth quarter. ING Groep NV now owns 76,409 shares of the shipping service provider’s stock worth $21,496,000 after purchasing an additional 43,368 shares during the last quarter. Finally, O Brien Greene & Co. Inc boosted its holdings in FedEx by 0.9% in the fourth quarter. O Brien Greene & Co. Inc now owns 17,537 shares of the shipping service provider’s stock valued at $4,934,000 after purchasing an additional 152 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Bank of America lifted their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Citigroup lifted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen boosted their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $321.87.

FedEx Price Performance

Shares of FDX opened at $253.97 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $270.75 and its two-hundred day moving average is $278.13. FedEx Co. has a twelve month low of $239.07 and a twelve month high of $313.84. The firm has a market capitalization of $61.17 billion, a PE ratio of 16.19, a P/E/G ratio of 1.11 and a beta of 1.18.

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

FedEx Dividend Announcement

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 paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

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.