FedEx Co. (NYSE:FDX) Stock Holdings Lessened by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its stake in FedEx Co. (NYSE:FDX) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,986 shares of the shipping service provider’s stock after selling 1,094 shares during the quarter. Wedge Capital Management L L P NC’s holdings in FedEx were worth $9,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in FDX. Sentry LLC purchased a new stake in shares of FedEx in the fourth quarter worth approximately $1,811,748,000. Mizuho Markets Americas LLC purchased a new stake in shares of FedEx in the third quarter worth approximately $496,611,000. FMR LLC lifted its position in shares of FedEx by 29.1% in the third quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of 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 worth $166,972,000 after purchasing an additional 649,680 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of FedEx by 144.4% in the third quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock worth $267,135,000 after purchasing an additional 595,628 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total value of $1,769,882.90. Following the transaction, the director now owns 7,865 shares in the company, valued at $2,265,277.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 6,145 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. Insiders own 8.73% of the company’s stock.

FedEx Stock Performance

FDX opened at $271.67 on Wednesday. The stock’s 50 day simple moving average is $260.44 and its 200-day simple moving average is $254.28. 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 stock has a market cap of $66.85 billion, a PE ratio of 15.67, a P/E/G ratio of 1.27 and a beta of 1.21. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 EPS. Sell-side analysts forecast that FedEx Co. will post 17.67 EPS for the current year.

FedEx declared that its board has authorized a stock 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

FedEx Dividend Announcement

The firm also recently announced 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. This represents a $5.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Evercore ISI lifted their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Bank of America lowered their target price on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Stifel Nicolaus decreased their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets raised their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. One equities research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.33.

FedEx Company 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.