Parallel Advisors LLC Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

Parallel Advisors LLC trimmed its stake in FedEx Co. (NYSE:FDX) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,084 shares of the shipping service provider’s stock after selling 963 shares during the period. Parallel Advisors LLC’s holdings in FedEx were worth $3,400,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FDX. Raymond James Financial Inc. purchased a new stake in FedEx in the 4th quarter valued at about $234,028,000. ACR Alpine Capital Research LLC raised its holdings in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares in the last quarter. Bryn Mawr Capital Management LLC raised its holdings in shares of FedEx by 22,317.0% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 1.3 %

FDX stock opened at $245.46 on Tuesday. The firm’s fifty day simple moving average is $262.47 and its 200-day simple moving average is $273.86. The company has a market capitalization of $59.12 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. 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 12 month low of $239.50 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the firm earned $3.99 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared 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. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Analyst Ratings Changes

Several equities research analysts have recently commented on FDX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, Bank of America boosted their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $318.04.

Insider Buying and Selling

In other news, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction 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 sale, the director now directly owns 8,904 shares in the company, valued at $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 insiders.

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.