Palouse Capital Management Inc. Has $82,000 Stake in FedEx Co. (NYSE:FDX)

Palouse Capital Management Inc. trimmed its holdings in FedEx Co. (NYSE:FDX) by 48.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290 shares of the shipping service provider’s stock after selling 272 shares during the period. Palouse Capital Management Inc.’s holdings in FedEx were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. IVC Wealth Advisors LLC raised its position in shares of FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after buying an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its position in shares of FedEx by 4.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares in the last quarter. Buckley Wealth Management LLC raised its position in shares of FedEx by 1.0% in the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after buying an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FDX shares. Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Raymond James boosted their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx Stock Performance

Shares of FedEx stock opened at $267.83 on Friday. 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 Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 1.18. The company’s fifty day moving average is $272.40 and its 200 day moving average is $279.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx’s payout ratio is 35.18%.

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.