Glenview Trust co Sells 388 Shares of FedEx Co. (NYSE:FDX)

Glenview Trust co lowered its stake in FedEx Co. (NYSE:FDX) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,199 shares of the shipping service provider’s stock after selling 388 shares during the period. Glenview Trust co’s holdings in FedEx were worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. United Bank purchased a new stake in FedEx in the third quarter worth about $615,000. CIBC Asset Management Inc boosted its position in shares of FedEx by 7.8% during the third quarter. CIBC Asset Management Inc now owns 33,562 shares of the shipping service provider’s stock valued at $9,185,000 after purchasing an additional 2,430 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its stake in FedEx by 18.3% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,956 shares of the shipping service provider’s stock worth $535,000 after purchasing an additional 302 shares during the period. Empowered Funds LLC lifted its position in FedEx by 85.4% during the third quarter. Empowered Funds LLC now owns 8,944 shares of the shipping service provider’s stock valued at $2,448,000 after buying an additional 4,121 shares during the period. Finally, Mizuho Securities USA LLC lifted its position in FedEx by 102.7% during the third quarter. Mizuho Securities USA LLC now owns 35,377 shares of the shipping service provider’s stock valued at $9,682,000 after buying an additional 17,924 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of several research reports. Stephens dropped 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. UBS Group raised 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. BMO Capital Markets upped their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $318.04.

Insider Activity

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, 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. Company insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $242.27 on Monday. 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 $239.50 and a 1 year high of $313.84. The firm has a fifty day moving average price of $263.04 and a 200-day moving average price of $274.21. The stock has a market cap of $58.35 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly 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 business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $3.99 earnings per share. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

FedEx 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.