Eastern Bank Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Eastern Bank trimmed its position in shares of FedEx Co. (NYSE:FDXFree Report) by 12.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 963 shares of the shipping service provider’s stock after selling 140 shares during the period. Eastern Bank’s holdings in FedEx were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter valued at $31,000. Harbor Capital Advisors Inc. bought a new position in FedEx in the 3rd quarter valued at $47,000. Finally, Proffitt & Goodson Inc. bought a new position in FedEx in the 3rd quarter valued at $50,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of 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 position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Trading Up 1.1 %

FedEx stock opened at $277.63 on Wednesday. The stock has a 50-day moving average of $283.89 and a two-hundred day moving average of $284.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $66.87 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. On average, research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group upped their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Barclays upped their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Susquehanna cut their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Finally, TD Cowen increased their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.61.

View Our Latest Research Report on FedEx

FedEx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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