Huntington National Bank Has $4.97 Million Stake in FedEx Co. (NYSE:FDX)

Huntington National Bank raised its holdings in FedEx Co. (NYSE:FDX) by 31.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,669 shares of the shipping service provider’s stock after buying an additional 4,179 shares during the period. Huntington National Bank’s holdings in FedEx were worth $4,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter worth approximately $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FDX. Citigroup cut their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Loop Capital cut FedEx from a “hold” rating to a “sell” rating and dropped their price target for the company from $283.00 to $221.00 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

Insiders Place Their Bets

In other 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 value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is currently owned by insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $245.45 on Thursday. 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 one year low of $217.22 and a one year high of $313.84. The company has a market cap of $58.81 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23. The firm has a 50 day simple moving average of $254.79 and a 200 day simple moving average of $270.10.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

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.