Parkside Financial Bank & Trust Has $556,000 Stock Holdings in FedEx Co. (NYSE:FDX)

Parkside Financial Bank & Trust lessened its position in FedEx Co. (NYSE:FDX) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,198 shares of the shipping service provider’s stock after selling 56 shares during the quarter. Parkside Financial Bank & Trust’s holdings in FedEx were worth $556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Sentry LLC acquired a new stake in FedEx in the 4th quarter valued at approximately $1,811,748,000. Mizuho Markets Americas LLC bought a new position in FedEx in the third quarter valued at approximately $496,611,000. FMR LLC grew its stake in FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. International Assets Investment Management LLC grew its stake in FedEx by 33,890.5% in the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock valued at $166,972,000 after purchasing an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in FedEx by 144.4% in the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after purchasing an additional 595,628 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FDX shares. Barclays raised their price target on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. TD Cowen lifted their target price on FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Bank of America reduced their target price on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

NYSE FDX traded up $1.35 during midday trading on Tuesday, hitting $271.50. The company had a trading volume of 638,799 shares, compared to its average volume of 2,053,449. The company has a market capitalization of $66.81 billion, a PE ratio of 15.75, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $259.74 and a 200-day moving average price of $254.18. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the previous year, the firm earned $3.41 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx announced that its board has approved a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.86%. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

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.