Quent Capital LLC Sells 63 Shares of FedEx Co. (NYSE:FDX)

Quent Capital LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 290 shares of the shipping service provider’s stock after selling 63 shares during the quarter. Quent Capital LLC’s holdings in FedEx were worth $82,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in FedEx during the 3rd quarter worth approximately $97,000. CX Institutional boosted its stake in FedEx by 7.6% during the 3rd quarter. CX Institutional now owns 2,552 shares of the shipping service provider’s stock worth $698,000 after acquiring an additional 180 shares during the last quarter. Creative Planning boosted its stake in FedEx by 15.7% during the 3rd quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock worth $22,237,000 after acquiring an additional 11,081 shares during the last quarter. Swedbank AB boosted its stake in FedEx by 0.4% during the 3rd quarter. Swedbank AB now owns 111,426 shares of the shipping service provider’s stock worth $30,495,000 after acquiring an additional 403 shares during the last quarter. Finally, Opal Wealth Advisors LLC boosted its stake in FedEx by 12.3% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,321 shares of the shipping service provider’s stock worth $635,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, 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 accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company raised their target price 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. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Citigroup raised their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One equities research 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. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Price Performance

Shares of FDX opened at $262.96 on Thursday. The company has a market cap of $63.33 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.07 and a beta of 1.18. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company’s fifty day simple moving average is $273.38 and its 200 day simple moving average is $279.68. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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

FedEx Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.10%. FedEx’s payout ratio is 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.