FedEx Co. (NYSE:FDX) Stock Position Cut by Edgar Lomax Co. VA

Edgar Lomax Co. VA lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 281,530 shares of the shipping service provider’s stock after selling 5,445 shares during the quarter. FedEx comprises 5.1% of Edgar Lomax Co. VA’s portfolio, making the stock its largest position. Edgar Lomax Co. VA owned approximately 0.12% of FedEx worth $79,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Forum Financial Management LP increased its stake in shares of FedEx by 28.3% in the 4th quarter. Forum Financial Management LP now owns 3,435 shares of the shipping service provider’s stock worth $967,000 after acquiring an additional 758 shares in the last quarter. Capital International Ltd. CA increased its stake in shares of FedEx by 1.5% during the fourth quarter. Capital International Ltd. CA now owns 28,974 shares of the shipping service provider’s stock valued at $8,151,000 after purchasing an additional 427 shares in the last quarter. Cadence Bank lifted its holdings in shares of FedEx by 1.4% during the fourth quarter. Cadence Bank now owns 32,279 shares of the shipping service provider’s stock valued at $9,081,000 after purchasing an additional 459 shares during the last quarter. Capital International Sarl boosted its position in shares of FedEx by 2.1% in the 4th quarter. Capital International Sarl now owns 62,114 shares of the shipping service provider’s stock worth $17,475,000 after purchasing an additional 1,248 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of FedEx by 2.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 226,115 shares of the shipping service provider’s stock worth $63,628,000 after buying an additional 4,447 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 1.9 %

Shares of NYSE:FDX opened at $207.45 on Friday. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a market cap of $49.71 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The stock has a 50 day moving average of $239.05 and a 200 day moving average of $263.63. 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 (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $3.86 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FDX shares. Stifel Nicolaus dropped their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Bank of America cut their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Wells Fargo & Company cut their price target on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

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.