Argent Trust Co Sells 198 Shares of FedEx Co. (NYSE:FDX)

Argent Trust Co lowered its position in shares of FedEx Co. (NYSE:FDX) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,776 shares of the shipping service provider’s stock after selling 198 shares during the quarter. Argent Trust Co’s holdings in FedEx were worth $4,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares during the last quarter. Geode Capital Management LLC boosted its stake in FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after acquiring an additional 109,006 shares during the last quarter. Franklin Resources Inc. lifted its stake in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Invesco Ltd. lifted its stake in FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after buying an additional 127,044 shares in the last quarter. Finally, Norges Bank bought a new position in FedEx in the fourth quarter valued at approximately $807,352,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the 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 completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and lowered their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Citigroup decreased their price objective on shares of FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Raymond James reduced their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $300.63.

FedEx Trading Down 4.2 %

NYSE:FDX traded down $9.20 on Thursday, reaching $208.74. 165,009 shares of the stock traded hands, compared to its average volume of 1,764,651. The firm has a market capitalization of $50.01 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company’s 50 day moving average is $245.77 and its 200-day moving average is $266.56. 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 Co. has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results 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 firm had revenue of $22.16 billion for 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.86 EPS. Equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, March 10th. FedEx’s payout ratio is 34.63%.

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.