Kimelman & Baird LLC Sells 65 Shares of FedEx Co. (NYSE:FDX)

Kimelman & Baird LLC trimmed its position in FedEx Co. (NYSE:FDX) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 355 shares of the shipping service provider’s stock after selling 65 shares during the quarter. Kimelman & Baird LLC’s holdings in FedEx were worth $100,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of FedEx by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after purchasing an additional 49,160 shares during the last quarter. Finally, Sentry LLC increased its holdings in shares of FedEx by 0.4% in the fourth quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after purchasing an additional 5,404 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $242.27 on Monday. The business’s fifty day simple moving average is $263.04 and its 200-day simple moving average is $274.21. The company has a market cap of $58.35 billion, a PE ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. 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 12-month low of $239.50 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. 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 posted $3.99 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the 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 completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on FDX. UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. TD Cowen boosted their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company dropped their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

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.