Cohen Klingenstein LLC Sells 1,000 Shares of FedEx Co. (NYSE:FDX)

Cohen Klingenstein LLC cut its stake in FedEx Co. (NYSE:FDX) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,089 shares of the shipping service provider’s stock after selling 1,000 shares during the period. Cohen Klingenstein LLC’s holdings in FedEx were worth $9,309,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FDX. Geode Capital Management LLC boosted its stake in FedEx by 1.5% in 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 in the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.6% during the 3rd 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 during the last quarter. Ameriprise Financial Inc. lifted its holdings in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of 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 buying an additional 11,100 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 acquiring an additional 13,093 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.8 %

NYSE:FDX opened at $275.11 on Friday. FedEx Co. has a 1-year low of $234.45 and a 1-year 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 $66.26 billion, a P/E ratio of 17.53, a PEG ratio of 1.12 and a beta of 1.20. The company’s fifty day moving average price is $283.70 and its 200-day moving average price is $284.20.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 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 business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the prior year, the firm posted $3.99 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Co. will post 19.2 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid 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 dividend payout ratio (DPR) is currently 35.18%.

Analyst Ratings Changes

Several brokerages recently issued reports on FDX. Barclays boosted their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Raymond James boosted their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Stifel Nicolaus boosted their price objective on shares of FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.61.

Insider Activity

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.