Cohen Klingenstein LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

Cohen Klingenstein LLC decreased its holdings in FedEx Co. (NYSE:FDXGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,590 shares of the shipping service provider’s stock after selling 270 shares during the quarter. Cohen Klingenstein LLC’s holdings in FedEx were worth $8,975,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox lifted its position in shares of FedEx by 22.2% during the 4th quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock worth $4,312,801,000 after buying an additional 3,031,046 shares during the last quarter. Norges Bank purchased a new stake in shares of FedEx during the 4th quarter worth approximately $593,029,000. Assenagon Asset Management S.A. lifted its position in shares of FedEx by 11,807.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 548,918 shares of the shipping service provider’s stock worth $127,014,000 after buying an additional 544,308 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of FedEx by 24,340.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 490,284 shares of the shipping service provider’s stock worth $113,447,000 after buying an additional 488,278 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of FedEx by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock worth $4,346,614,000 after buying an additional 394,289 shares during the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FDX. Evercore ISI reduced their price objective on shares of FedEx from $243.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday. Citigroup cut their target price on shares of FedEx from $180.00 to $165.00 in a report on Friday. Morgan Stanley cut their target price on shares of FedEx from $255.00 to $250.00 in a report on Wednesday, September 7th. Bank of America cut their target price on shares of FedEx from $186.00 to $178.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $320.00 target price on shares of FedEx in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.74.

FedEx Price Performance

Shares of NYSE FDX traded down $5.73 during trading on Friday, hitting $148.81. 193,548 shares of the company were exchanged, compared to its average volume of 4,134,571. The company has a market cap of $38.68 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.73 and a beta of 1.21. FedEx Co. has a 1 year low of $150.34 and a 1 year high of $266.79. The firm’s fifty day moving average price is $216.15 and its 200 day moving average price is $216.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.43 and a quick ratio of 1.38.

FedEx (NYSE:FDXGet Rating) last issued its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 EPS for the quarter, missing the consensus estimate of $5.14 by ($1.70). The company had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.78 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. FedEx’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.37 earnings per share. On average, sell-side analysts expect that FedEx Co. will post 16.55 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 3.09%. FedEx’s dividend payout ratio is presently 32.17%.

Insider Buying and Selling

In related news, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the sale, the executive vice president now directly owns 54,916 shares in the company, valued at approximately $12,664,178.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Robert B. Carter sold 12,310 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the sale, the executive vice president now directly owns 54,916 shares in the company, valued at approximately $12,664,178.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy B. Lane bought 607 shares of FedEx stock in a transaction on Thursday, June 30th. The stock was purchased at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the acquisition, the director now owns 686 shares in the company, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Insiders have sold 48,810 shares of company stock worth $11,199,898 in the last three months. Corporate insiders own 8.62% of the company’s stock.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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