FedEx Co. (NYSE:FDX) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its position in shares of FedEx Co. (NYSE:FDX) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,145 shares of the shipping service provider’s stock after selling 115 shares during the period. Patten & Patten Inc. TN’s holdings in FedEx were worth $2,854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI boosted its position in FedEx by 3.0% in the 3rd 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 during the last quarter. Turtle Creek Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 39 shares during the last quarter. Harbour Investments Inc. grew its stake in FedEx by 1.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after purchasing an additional 40 shares in the last quarter. Cetera Trust Company N.A increased its holdings in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its position in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $242.27 on Friday. The firm has a market capitalization of $58.35 billion, a PE ratio of 15.44, a P/E/G ratio of 1.11 and a beta of 1.23. 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 12 month low of $239.50 and a 12 month high of $313.84. The company’s 50 day simple moving average is $263.04 and its 200 day simple moving average is $274.37.

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

FedEx Dividend Announcement

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 issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s payout ratio is currently 35.18%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stephens lowered their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company reduced their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.04.

FedEx Company 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.