Pine Valley Investments Ltd Liability Co Has $3.07 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Pine Valley Investments Ltd Liability Co reduced its stake in shares of FedEx Co. (NYSE:FDX) by 13.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,920 shares of the shipping service provider’s stock after selling 1,743 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in FedEx were worth $3,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after acquiring an additional 67,502 shares during the period. Franklin Resources Inc. raised its stake in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after purchasing an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after buying an additional 13,093 shares during the period. Finally, Sentry LLC grew its holdings in shares of FedEx by 0.4% during the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after buying an additional 5,404 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FDX shares. Bank of America boosted their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised their price objective on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Stock Performance

NYSE FDX opened at $252.94 on Tuesday. FedEx Co. has a 52-week low of $239.07 and a 52-week high of $313.84. The stock has a market cap of $60.92 billion, a PE ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18. The firm has a 50-day moving average of $270.14 and a 200-day moving average of $277.95. 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 (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm 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 revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $3.99 earnings per share. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $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.

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.