Meitav Investment House Ltd. Sells 3,910 Shares of FedEx Co. (NYSE:FDX)

Meitav Investment House Ltd. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 58.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,724 shares of the shipping service provider’s stock after selling 3,910 shares during the quarter. Meitav Investment House Ltd.’s holdings in FedEx were worth $766,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new position in shares of 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, Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of FDX opened at $267.02 on Thursday. FedEx Co. has a one year low of $235.32 and a one year high of $313.84. 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 stock has a market cap of $64.31 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.11 and a beta of 1.18. The company has a 50-day moving average of $271.65 and a two-hundred day moving average of $278.45.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.99 earnings per share. On average, equities research 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 will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 35.18%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and dropped their price target for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Wells Fargo & Company upped their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. TD Cowen upped their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Stephens decreased their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly 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 disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate 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.