Crestline Management LP Sells 10,269 Shares of FedEx Co. (NYSE:FDX)

Crestline Management LP lessened its position in FedEx Co. (NYSE:FDX) by 37.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,208 shares of the shipping service provider’s stock after selling 10,269 shares during the period. Crestline Management LP’s holdings in FedEx were worth $4,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Transce3nd LLC purchased a new position in shares of FedEx during the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. bought a new position in shares of FedEx in the 4th quarter worth approximately $28,000. City Holding Co. purchased a new position in shares of FedEx in the 4th quarter valued at approximately $28,000. Finally, Kentucky Trust Co bought a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $213.44 on Wednesday. The stock’s fifty day moving average is $227.04 and its 200 day moving average is $259.09. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $51.14 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.86 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current 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. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.59%. FedEx’s dividend payout ratio is presently 34.63%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Bank of America dropped their target price on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Raymond James cut their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and cut their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and lowered their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $297.71.

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.