Virtus Fund Advisers LLC lowered its position in shares of FedEx Co. (NYSE:FDX) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 136,566 shares of the shipping service provider’s stock after selling 1,998 shares during the quarter. Virtus Fund Advisers LLC’s holdings in FedEx were worth $34,147,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Krilogy Financial LLC raised its holdings in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the last quarter. RNC Capital Management LLC raised its holdings in shares of FedEx by 0.8% during the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after acquiring an additional 15 shares during the last quarter. High Falls Advisors Inc raised its holdings in shares of FedEx by 2.1% during the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after acquiring an additional 23 shares during the last quarter. Finally, Sii Investments Inc. WI raised its holdings in shares of FedEx by 1.3% during the second quarter. Sii Investments Inc. WI now owns 3,402 shares of the shipping service provider’s stock valued at $739,000 after acquiring an additional 45 shares during the last quarter. 74.01% of the stock is owned by institutional investors and hedge funds.
In other news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock valued at $13,692,142 over the last quarter. 8.45% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on FDX. Robert W. Baird restated a “buy” rating and issued a $270.00 price target on shares of FedEx in a research report on Monday, February 12th. Bank of America restated a “buy” rating and issued a $315.00 price target on shares of FedEx in a research report on Friday, January 12th. Wells Fargo & Co set a $275.00 price target on FedEx and gave the company a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Oppenheimer restated a “buy” rating and issued a $265.00 price target (up from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $272.69.
FedEx Co. (FDX) opened at $244.19 on Tuesday. The firm has a market capitalization of $65,415.96, a P/E ratio of 22.51, a P/E/G ratio of 1.42 and a beta of 1.30. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $274.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.80 earnings per share. analysts anticipate that FedEx Co. will post 13.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be given a $0.50 dividend. The ex-dividend date is Friday, March 9th. This represents a $2.00 annualized dividend and a yield of 0.82%. FedEx’s payout ratio is 18.43%.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.