Frank Rimerman Advisors LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

Frank Rimerman Advisors LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 56.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,957 shares of the shipping service provider’s stock after selling 2,566 shares during the period. Frank Rimerman Advisors LLC’s holdings in FedEx were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FDX. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx in the fourth quarter worth about $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FDX shares. Stephens reduced their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Wells Fargo & Company reduced their price objective on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus reduced their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $318.04.

FedEx Stock Up 0.5 %

Shares of NYSE FDX opened at $242.27 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $58.35 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. The stock has a 50 day moving average price of $263.04 and a 200 day moving average price of $274.21. FedEx Co. has a 52-week low of $239.50 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 earnings per share. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. FedEx’s dividend payout ratio is currently 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

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.