Cooper Financial Group Lowers Holdings in FedEx Co. (NYSE:FDX)

Cooper Financial Group decreased its holdings in FedEx Co. (NYSE:FDX) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,557 shares of the shipping service provider’s stock after selling 214 shares during the quarter. Cooper Financial Group’s holdings in FedEx were worth $1,563,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC raised its position 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. Evermay Wealth Management LLC raised its position in FedEx by 72.7% in 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 last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the 3rd quarter worth about $31,000. Abound Wealth Management raised its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FDX. Susquehanna reduced their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, BMO Capital Markets upped their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $325.61.

FedEx Price Performance

Shares of FDX traded up $4.13 during mid-day trading on Monday, hitting $274.86. 826,182 shares of the stock were exchanged, compared to its average volume of 1,412,401. The company has a market cap of $66.20 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a 50-day moving average of $283.78 and a two-hundred day moving average of $284.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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 15.61% and a net margin of 4.62%. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the prior year, the firm earned $3.99 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s payout ratio is presently 35.18%.

Insider Activity at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction 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 approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Company 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.