Everett Harris & Co. CA Decreases Holdings in FedEx Co. (NYSE:FDX)

Everett Harris & Co. CA cut its holdings in shares of FedEx Co. (NYSE:FDX) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,749 shares of the shipping service provider’s stock after selling 110 shares during the quarter. Everett Harris & Co. CA’s holdings in FedEx were worth $1,336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FDX. Clear Creek Financial Management LLC increased its holdings in shares of FedEx by 16.4% in the fourth quarter. Clear Creek Financial Management LLC now owns 1,354 shares of the shipping service provider’s stock worth $381,000 after buying an additional 191 shares during the period. GFS Advisors LLC bought a new stake in FedEx in the fourth quarter valued at approximately $26,855,000. Caprock Group LLC boosted its stake in shares of FedEx by 19.1% during the fourth quarter. Caprock Group LLC now owns 10,222 shares of the shipping service provider’s stock valued at $2,889,000 after purchasing an additional 1,636 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of FedEx in the fourth quarter worth approximately $32,000. Finally, Institute for Wealth Management LLC. increased its stake in shares of FedEx by 0.9% in the fourth quarter. Institute for Wealth Management LLC. now owns 11,069 shares of the shipping service provider’s stock worth $3,114,000 after buying an additional 96 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Performance

Shares of FDX opened at $264.96 on Friday. The firm has a market capitalization of $63.82 billion, a P/E ratio of 16.89, a PEG ratio of 1.14 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The business has a fifty day moving average of $280.32 and a 200 day moving average of $282.72.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. TD Cowen boosted their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Loop Capital upgraded FedEx from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $325.43.

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.