FedEx Co. (NYSE:FDX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 2.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 119,577 shares of the shipping service provider’s stock after selling 2,818 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in FedEx were worth $33,641,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC raised its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. City Holding Co. purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Up 1.8 %

Shares of NYSE:FDX opened at $267.83 on Friday. The firm’s 50 day moving average price is $272.65 and its 200 day moving average price is $279.45. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the company earned $3.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stephens dropped their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Raymond James upped their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their target price for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insiders Place Their Bets

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 shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This 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 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.