Advisors Asset Management Inc. Has $23.41 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Advisors Asset Management Inc. lessened its position in shares of FedEx Co. (NYSE:FDX) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,211 shares of the shipping service provider’s stock after selling 9,058 shares during the quarter. Advisors Asset Management Inc.’s holdings in FedEx were worth $23,410,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FDX. Raymond James Financial Inc. acquired a new position in shares of FedEx during the fourth quarter valued at $234,028,000. ACR Alpine Capital Research LLC lifted its stake in shares of FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after acquiring an additional 329,170 shares during the period. Bryn Mawr Capital Management LLC lifted its stake in FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after buying an additional 321,141 shares during the period. Franklin Resources Inc. lifted its stake in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares during the period. Finally, KBC Group NV lifted its stake in FedEx by 197.4% in the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after buying an additional 226,608 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FDX shares. Stifel Nicolaus cut their target price on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Bank of America increased their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company cut their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and cut their target price for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, BMO Capital Markets increased their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $318.04.

FedEx Stock Up 1.3 %

FDX stock opened at $245.46 on Tuesday. 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 has a 50 day moving average price of $262.47 and a two-hundred day moving average price of $273.86. The company has a market cap of $59.12 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a twelve month low of $239.50 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during 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 business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $3.99 earnings per share. Analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. FedEx’s payout ratio is 35.18%.

Insider Activity

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’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 sale, the director now directly owns 8,904 shares of the company’s stock, 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.

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.