FedEx Co. (NYSE:FDX) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in shares of FedEx Co. (NYSE:FDX) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,884 shares of the shipping service provider’s stock after selling 301 shares during the period. Hartford Investment Management Co.’s holdings in FedEx were worth $3,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter worth $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter worth $28,000. Finally, Activest Wealth Management purchased a new position in FedEx in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Raymond James lifted their price objective on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Stifel Nicolaus reduced their target price on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. TD Cowen raised their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

FedEx Stock Performance

Shares of FDX stock opened at $262.96 on Thursday. FedEx Co. has a 12-month low of $234.45 and a 12-month 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 firm has a market capitalization of $63.33 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The business has a 50 day simple moving average of $273.38 and a 200 day simple moving average of $279.68.

FedEx (NYSE:FDX) last released its quarterly 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. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

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.