Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in FedEx Corporation $FDX

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in FedEx Corporation (NYSE:FDX) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 121,382 shares of the shipping service provider’s stock after selling 2,005 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FedEx were worth $35,062,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Grey Fox Wealth Advisors LLC bought a new position in FedEx in the 3rd quarter worth approximately $27,000. Wealth Watch Advisors INC bought a new stake in FedEx during the 3rd quarter valued at $28,000. Ameriflex Group Inc. lifted its position in shares of FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of FedEx during the fourth quarter worth $29,000. Finally, ORG Partners LLC boosted its holdings in shares of FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 in the last ninety days. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on FDX. BMO Capital Markets boosted their price objective on FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a research note on Friday, March 20th. Weiss Ratings restated a “buy (b-)” rating on shares of FedEx in a research note on Monday, December 29th. BNP Paribas Exane set a $280.00 target price on FedEx and gave the company a “neutral” rating in a report on Tuesday, January 13th. Wolfe Research decreased their price target on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Zacks Research downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $398.04.

FedEx Trading Up 0.3%

Shares of FDX stock opened at $393.53 on Tuesday. The company has a market capitalization of $93.90 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. FedEx Corporation has a 52-week low of $201.10 and a 52-week high of $395.90. The business’s fifty day moving average is $368.21 and its 200 day moving average is $311.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.51 earnings per share. On average, equities research analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is presently 30.87%.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.