Portland Global Advisors LLC Decreases Holdings in FedEx Co. (NYSE:FDX)

Portland Global Advisors LLC reduced its position in FedEx Co. (NYSE:FDX) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,541 shares of the shipping service provider’s stock after selling 257 shares during the period. FedEx accounts for about 1.0% of Portland Global Advisors LLC’s holdings, making the stock its 28th largest holding. Portland Global Advisors LLC’s holdings in FedEx were worth $8,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Bank purchased a new stake in shares of FedEx in the third quarter valued at about $615,000. Townsquare Capital LLC grew its holdings in FedEx by 19.5% during the 3rd quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock valued at $483,000 after buying an additional 288 shares during the last quarter. Bridgewater Associates LP increased its position in FedEx by 38.8% during the third quarter. Bridgewater Associates LP now owns 25,022 shares of the shipping service provider’s stock worth $6,848,000 after buying an additional 6,994 shares in the last quarter. Fiduciary Trust Co lifted its position in shares of FedEx by 45.6% in the third quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider’s stock valued at $902,000 after acquiring an additional 1,031 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of FedEx by 117.0% during the third quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider’s stock valued at $21,343,000 after acquiring an additional 42,034 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX opened at $241.75 on Friday. The firm has a market cap of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. 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 business’s 50 day moving average is $256.59 and its two-hundred day moving average is $270.98. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.86 earnings per share. Analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal 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 paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 34.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on FDX. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. BMO Capital Markets reduced their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. TD Cowen lowered their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Citigroup cut their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Buying and Selling at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,711 shares of company stock worth $3,312,693 over the last quarter. 8.87% of the stock is owned by corporate insiders.

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.