Rodgers Brothers Inc. Cuts Stake in FedEx Co. (NYSE:FDX)

Rodgers Brothers Inc. reduced its position in FedEx Co. (NYSE:FDX) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,282 shares of the shipping service provider’s stock after selling 50 shares during the quarter. Rodgers Brothers Inc.’s holdings in FedEx were worth $5,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. bLong Financial LLC purchased a new stake in shares of FedEx in the 4th quarter worth approximately $391,000. Virtu Financial LLC bought a new position in FedEx in the third quarter worth approximately $3,405,000. Lodestone Wealth Management LLC purchased a new stake in FedEx during the fourth quarter worth $461,000. Wedmont Private Capital boosted its position in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC purchased a new position in shares of FedEx in the 4th quarter valued at $26,855,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

FDX stock opened at $241.75 on Monday. The business’s fifty day moving average price is $256.59 and its 200 day moving average price is $270.89. FedEx Co. has a 12-month low of $217.22 and a 12-month high of $313.84. The company has a market capitalization of $57.92 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. 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 announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 12,711 shares of company stock valued at $3,312,693. Insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. TD Cowen cut their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and cut their price target for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, BMO Capital Markets decreased their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

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.