Fairfield Financial Advisors LTD Reduces Stake in FedEx Co. (NYSE:FDX)

Fairfield Financial Advisors LTD lowered its holdings in FedEx Co. (NYSE:FDX) by 13.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 267 shares of the shipping service provider’s stock after selling 40 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in FedEx were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FDX. Fortitude Family Office LLC boosted its position in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new stake in shares of FedEx in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction 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 approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $253.80 on Friday. FedEx Co. has a fifty-two week low of $242.92 and a fifty-two week high of $313.84. The stock has a market cap of $61.13 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business has a fifty day moving average of $266.55 and a 200-day moving average of $276.26. 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 (NYSE:FDX) last released its 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 return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.99 earnings per share. As a group, analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FDX. JPMorgan Chase & Co. decreased their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Bank of America increased their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Raymond James cut FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Loop Capital cut FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.58.

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.