Westpac Banking Corp Sells 3,037 Shares of FedEx Co. (NYSE:FDX)

Westpac Banking Corp lowered its position in shares of FedEx Co. (NYSE:FDX) by 73.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,114 shares of the shipping service provider’s stock after selling 3,037 shares during the period. Westpac Banking Corp’s holdings in FedEx were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. bLong Financial LLC bought a new stake in shares of FedEx during the fourth quarter worth about $391,000. Virtu Financial LLC acquired a new stake in FedEx during the 3rd quarter worth approximately $3,405,000. Lodestone Wealth Management LLC bought a new stake in FedEx during the 4th quarter worth approximately $461,000. Wedmont Private Capital increased its position in FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC bought a new position in shares of FedEx during the fourth quarter valued at $26,855,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FDX. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the company from $283.00 to $221.00 in a report on Friday, March 21st. Stephens decreased their price target on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Finally, TD Cowen reduced their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

FedEx Stock Performance

Shares of FDX stock opened at $209.90 on Friday. FedEx Co. has a one year low of $203.90 and a one year high of $313.84. The company has a market cap of $50.29 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.11 and a beta of 1.24. The firm has a 50-day moving average of $252.45 and a 200-day moving average of $269.15. 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 (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.86 EPS. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.63%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock worth $3,312,693 in the last ninety days. Company insiders own 8.87% of the company’s stock.

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.