Bleakley Financial Group LLC Sells 331 Shares of FedEx Co. (NYSE:FDX)

Bleakley Financial Group LLC lowered its stake in FedEx Co. (NYSE:FDX) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,944 shares of the shipping service provider’s stock after selling 331 shares during the quarter. Bleakley Financial Group LLC’s holdings in FedEx were worth $3,360,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FDX. Geode Capital Management LLC grew its holdings in 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 valued at $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. lifted its position in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after acquiring an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of FedEx by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares during the period. Finally, Sentry LLC lifted its position in shares of FedEx by 0.4% during the 4th 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 during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus lowered their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Citigroup lifted their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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. Finally, Wells Fargo & Company raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.87.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Performance

FDX stock opened at $258.74 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The business’s fifty day moving average is $276.41 and its 200-day moving average is $281.02. The company has a market cap of $62.32 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s dividend payout ratio is 35.18%.

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.