FedEx Co. (NYSE:FDX) Stake Cut by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,181 shares of the shipping service provider’s stock after selling 111 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in FedEx were worth $1,176,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Fortitude Family Office LLC grew its position in 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 purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx in the fourth quarter worth $28,000. City Holding Co. purchased a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, FNY Investment Advisers LLC grew its stake in FedEx by 177.5% in the fourth quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James lifted their price target on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and boosted their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, UBS Group increased their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Price Performance

Shares of FDX stock opened at $275.72 on Wednesday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a market capitalization of $66.41 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.14 and a beta of 1.20. The stock has a 50 day moving average of $283.19 and a two-hundred day moving average of $283.74. 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 posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.99 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

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.