Pitcairn Co. Lowers Position in FedEx Co. (NYSE:FDX)

Pitcairn Co. decreased its stake in FedEx Co. (NYSE:FDX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,121 shares of the shipping service provider’s stock after selling 118 shares during the quarter. Pitcairn Co.’s holdings in FedEx were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FDX. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter worth $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx during the 4th quarter valued at $29,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FDX. Stifel Nicolaus cut their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Raymond James cut their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. BMO Capital Markets decreased their target price 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 dropped their price target on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by company insiders.

FedEx Trading Down 12.1 %

Shares of NYSE FDX opened at $215.52 on Friday. FedEx Co. has a fifty-two week low of $213.67 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $51.64 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.11 and a beta of 1.23. The business’s 50 day moving average price is $253.71 and its 200-day moving average price is $269.72.

FedEx (NYSE:FDX) last released its 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 business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.86 EPS. On average, sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.56%. 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.