FedEx Co. (NYSE:FDX) Holdings Lessened by Eaton Vance Management

Eaton Vance Management reduced its stake in shares of FedEx Co. (NYSE:FDX) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 929,088 shares of the shipping service provider’s stock after selling 8,277 shares during the period. Eaton Vance Management owned approximately 0.35% of FedEx worth $231,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Investment Centers of America Inc. raised its stake in shares of FedEx by 21.4% during the 2nd quarter. Investment Centers of America Inc. now owns 3,904 shares of the shipping service provider’s stock worth $851,000 after buying an additional 689 shares during the last quarter. Impala Asset Management LLC raised its stake in shares of FedEx by 66.2% during the 2nd quarter. Impala Asset Management LLC now owns 193,791 shares of the shipping service provider’s stock worth $42,117,000 after buying an additional 77,202 shares during the last quarter. Stevens Capital Management LP raised its stake in shares of FedEx by 60.6% during the 2nd quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock worth $8,550,000 after buying an additional 14,845 shares during the last quarter. Sandy Spring Bank raised its stake in shares of FedEx by 4.8% during the 2nd quarter. Sandy Spring Bank now owns 3,241 shares of the shipping service provider’s stock worth $705,000 after buying an additional 147 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in shares of FedEx by 3.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,511 shares of the shipping service provider’s stock worth $2,067,000 after buying an additional 300 shares during the last quarter. Institutional investors own 74.65% of the company’s stock.

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FedEx Co. (NYSE FDX) opened at $252.03 on Friday. FedEx Co. has a one year low of $182.89 and a one year high of $274.66. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The company has a market cap of $66,144.62, a PE ratio of 23.23, a PEG ratio of 1.44 and a beta of 1.32.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter in the prior year, the company posted $2.80 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. sell-side analysts forecast that FedEx Co. will post 13.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s payout ratio is currently 18.43%.

In other news, Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the sale, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the sale, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders have sold a total of 53,541 shares of company stock valued at $13,692,142 in the last quarter. Company insiders own 8.45% of the company’s stock.

Several research analysts have recently issued reports on FDX shares. Citigroup lifted their price target on FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Credit Suisse Group reaffirmed a “positive” rating and set a $283.00 price target (up previously from $278.00) on shares of FedEx in a research note on Wednesday, December 20th. Stephens set a $306.00 price target on FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Robert W. Baird reissued a “buy” rating and issued a $270.00 target price on shares of FedEx in a research note on Monday, February 12th. Finally, Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company. FedEx presently has an average rating of “Buy” and a consensus price target of $275.47.

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FedEx Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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