Commonwealth Equity Services LLC Sells 4,182 Shares of FedEx Co. (NYSE:FDX)

Commonwealth Equity Services LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 146,677 shares of the shipping service provider’s stock after selling 4,182 shares during the period. Commonwealth Equity Services LLC’s holdings in FedEx were worth $41,265,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Citizens Financial Group Inc. RI lifted its stake in FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after acquiring an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after acquiring an additional 39 shares in the last quarter. Harbour Investments Inc. lifted its stake in FedEx by 1.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after acquiring an additional 40 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares during the period. Finally, Griffin Asset Management Inc. raised its stake in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares during the period. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FDX shares. UBS Group lifted their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company lowered their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $318.04.

FedEx Stock Up 0.5 %

Shares of NYSE FDX opened at $242.27 on Friday. FedEx Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $58.35 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. The business has a 50-day moving average of $263.04 and a 200-day moving average of $274.51.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the firm earned $3.99 earnings per share. FedEx’s revenue was down .7% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

In other news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value 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 approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

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.