FedEx Co. (NYSE:FDX) Shares Sold by Skba Capital Management LLC

Skba Capital Management LLC trimmed its position in FedEx Co. (NYSE:FDX) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,720 shares of the shipping service provider’s stock after selling 1,200 shares during the period. Skba Capital Management LLC’s holdings in FedEx were worth $9,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its stake 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 buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter worth approximately $28,000. City Holding Co. acquired a new position in FedEx during the fourth quarter worth approximately $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the 4th quarter worth $28,000. Finally, Activest Wealth Management purchased a new position in shares of FedEx in the 4th quarter worth $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Cfra Research raised FedEx to a “hold” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $302.71.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.9 %

Shares of FedEx stock opened at $241.75 on Monday. The stock has a market capitalization of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $256.59 and its 200-day simple moving average is $270.89.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the business earned $3.86 earnings per share. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

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.