Perpetual Ltd Trims Stock Position in FedEx Co. (NYSE:FDX)

Perpetual Ltd decreased its position in FedEx Co. (NYSE:FDX) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,080 shares of the shipping service provider’s stock after selling 1,967 shares during the period. Perpetual Ltd’s holdings in FedEx were worth $866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of 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 buying an additional 52 shares during the period. Evermay Wealth Management LLC raised 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 acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter worth about $28,000. Finally, FNY Investment Advisers LLC increased its position in FedEx by 177.5% during the 4th quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction 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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays lifted their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. UBS Group lifted their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets increased their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $325.61.

FedEx Price Performance

Shares of NYSE FDX opened at $270.52 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $282.95 and its 200-day simple moving average is $283.61. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market capitalization of $65.16 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.14 and a beta of 1.20.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

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.