FedEx Co. (NYSE:FDX) Shares Sold by SOL Capital Management CO

SOL Capital Management CO lessened its stake in shares of FedEx Co. (NYSE:FDX) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,711 shares of the shipping service provider’s stock after selling 1,855 shares during the quarter. SOL Capital Management CO’s holdings in FedEx were worth $3,013,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter valued at $31,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 2.1 %

Shares of FDX opened at $269.39 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a 50-day moving average price of $280.84 and a 200 day moving average price of $282.81. The company has a market capitalization of $64.88 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.12 and a beta of 1.20.

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

FedEx Announces Dividend

The business also recently declared 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. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.05%. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on 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 transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FDX shares. Stifel Nicolaus decreased their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Stephens dropped their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and increased their price target for the stock from $288.00 to $365.00 in a research note on Friday, December 20th. Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets increased their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $325.43.

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.