FedEx Co. (NYSE:FDX) Holdings Cut by Excalibur Management Corp

Excalibur Management Corp cut its stake in FedEx Co. (NYSE:FDX) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,232 shares of the shipping service provider’s stock after selling 187 shares during the quarter. FedEx makes up 0.9% of Excalibur Management Corp’s portfolio, making the stock its 27th biggest holding. Excalibur Management Corp’s holdings in FedEx were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the last quarter. Geode Capital Management LLC boosted its holdings in FedEx by 1.5% in 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 purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. increased its position in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in FedEx by 0.7% during 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 buying an additional 11,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of FedEx by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after buying an additional 49,160 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and lowered their price target for the company from $300.00 to $275.00 in a research report on Monday. Raymond James decreased their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Loop Capital cut FedEx from a “hold” rating to a “sell” rating and reduced their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $300.60.

FedEx Stock Down 0.5 %

Shares of FedEx stock opened at $241.19 on Wednesday. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The business has a fifty day simple moving average of $258.58 and a 200 day simple moving average of $271.75. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $58.09 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.86 earnings per share. Research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

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.