Rhumbline Advisers Sells 4,272 Shares of FedEx Co. (NYSE:FDX)

Rhumbline Advisers decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 449,889 shares of the shipping service provider’s stock after selling 4,272 shares during the period. Rhumbline Advisers’ holdings in FedEx were worth $126,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings 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 period. Evermay Wealth Management LLC boosted its holdings 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 period. Peoples Financial Services CORP. bought a new position in FedEx in the 4th quarter worth $28,000. City Holding Co. bought a new position in FedEx in the 4th quarter worth $28,000. Finally, Kentucky Trust Co bought a new position in FedEx in the 4th quarter worth $28,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. UBS Group upped their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus dropped their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. TD Cowen increased their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Wells Fargo & Company increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Buying and Selling

In related news, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade 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 currently owned by corporate insiders.

FedEx Stock Performance

FedEx stock opened at $267.83 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The firm has a market capitalization of $64.51 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The company’s 50-day moving average is $272.40 and its 200 day moving average is $279.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the company posted $3.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is currently 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.