Primecap Management Co. CA Has $3.49 Billion Holdings in FedEx Co. (NYSE:FDX)

Primecap Management Co. CA lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,390,945 shares of the shipping service provider’s stock after selling 318,385 shares during the period. FedEx comprises 2.7% of Primecap Management Co. CA’s holdings, making the stock its 3rd largest holding. Primecap Management Co. CA owned about 5.14% of FedEx worth $3,485,945,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FDX. Geode Capital Management LLC increased its position in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after buying an additional 67,502 shares during the period. Franklin Resources Inc. lifted its position in shares of FedEx by 8.6% during 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 purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after acquiring an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. raised its position in FedEx by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after acquiring an additional 49,160 shares during the period. Finally, Sentry LLC increased its stake in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after purchasing an additional 5,404 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent analyst reports. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. Finally, Stephens cut their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $318.04.

FedEx Trading Up 1.3 %

NYSE:FDX opened at $245.46 on Tuesday. The company has a fifty day moving average of $262.47 and a 200 day moving average of $273.86. FedEx Co. has a 52 week low of $239.50 and a 52 week high of $313.84. 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 firm has a market capitalization of $59.12 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating 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 company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the business posted $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. FedEx’s dividend payout ratio is currently 35.18%.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction 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 completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

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.