Bank of New York Mellon Corp Sells 187,073 Shares of FedEx Co. (NYSE:FDX)

Bank of New York Mellon Corp decreased its position in FedEx Co. (NYSE:FDX) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,406,196 shares of the shipping service provider’s stock after selling 187,073 shares during the quarter. Bank of New York Mellon Corp owned 1.00% of FedEx worth $676,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FDX. bLong Financial LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $391,000. Virtu Financial LLC purchased a new position in FedEx in the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC bought a new stake in FedEx in the fourth quarter worth $461,000. Wedmont Private Capital boosted its position in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after buying an additional 91 shares during the period. Finally, GFS Advisors LLC bought a new position in shares of FedEx during the fourth quarter valued at about $26,855,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.1 %

FDX opened at $256.31 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $239.07 and a 52 week high of $313.84. The stock has a market cap of $61.73 billion, a PE ratio of 16.34, a PEG ratio of 1.11 and a beta of 1.18. The business has a 50 day moving average of $269.72 and a 200-day moving average of $277.80.

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

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. JPMorgan Chase & Co. boosted their target price on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. BMO Capital Markets raised their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Citigroup upped their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Activity

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was 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 owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

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.