Northstar Asset Management Inc. Sells 882 Shares of FedEx Co. (NYSE:FDX)

Northstar Asset Management Inc. reduced its position in FedEx Co. (NYSE:FDX) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,232 shares of the shipping service provider’s stock after selling 882 shares during the quarter. FedEx makes up about 2.5% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Northstar Asset Management Inc.’s holdings in FedEx were worth $9,630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnbrook Capital Management LP purchased a new stake in FedEx in the 4th quarter worth $4,008,000. D.A. Davidson & CO. boosted its stake in shares of FedEx by 25.2% in the fourth quarter. D.A. Davidson & CO. now owns 44,332 shares of the shipping service provider’s stock worth $12,472,000 after acquiring an additional 8,917 shares during the period. Citizens & Northern Corp grew its position in shares of FedEx by 19.0% during the fourth quarter. Citizens & Northern Corp now owns 4,579 shares of the shipping service provider’s stock worth $1,288,000 after purchasing an additional 732 shares in the last quarter. CIBC Asset Management Inc raised its stake in FedEx by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 35,021 shares of the shipping service provider’s stock valued at $9,852,000 after purchasing an additional 1,459 shares during the period. Finally, Highview Capital Management LLC DE lifted its holdings in FedEx by 3.0% in the 4th quarter. Highview Capital Management LLC DE now owns 4,501 shares of the shipping service provider’s stock worth $1,266,000 after purchasing an additional 129 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other news, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired 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 trade represents a ∞ increase in their position. The acquisition 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 dated 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 transaction, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. 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 report on Friday, December 20th. TD Cowen lifted their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Bank of America increased their price objective on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays lifted their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Citigroup increased their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Stock Up 1.8 %

Shares of NYSE:FDX opened at $267.83 on Tuesday. 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 business has a 50 day simple moving average of $272.40 and a two-hundred day simple moving average of $278.92. 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 PE ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 EPS. FedEx’s revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s payout ratio is 35.18%.

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.