Raymond James Trust N.A. Cuts Stock Position in FedEx Co. (NYSE:FDX)

Raymond James Trust N.A. cut its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,005 shares of the shipping service provider’s stock after selling 393 shares during the quarter. Raymond James Trust N.A.’s holdings in FedEx were worth $3,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in FedEx by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock valued at $4,961,716,000 after acquiring an additional 59,161 shares during the period. BlackRock Inc. boosted its holdings in FedEx by 2.0% during the 2nd quarter. BlackRock Inc. now owns 16,155,472 shares of the shipping service provider’s stock valued at $4,004,941,000 after acquiring an additional 313,917 shares during the period. Geode Capital Management LLC boosted its holdings in FedEx by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,200,026 shares of the shipping service provider’s stock valued at $1,037,956,000 after acquiring an additional 60,223 shares during the period. FMR LLC boosted its holdings in FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after acquiring an additional 916,555 shares during the period. Finally, Morgan Stanley boosted its holdings in FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock valued at $591,124,000 after acquiring an additional 559,607 shares during the period. 73.61% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $259.99 on Thursday. The business’s fifty day simple moving average is $246.01 and its two-hundred day simple moving average is $251.39. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $285.53. The company has a market cap of $64.97 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.22 and a beta of 1.20.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.15). The firm had revenue of $22.17 billion during the quarter, compared to analysts’ expectations of $22.36 billion. FedEx had a return on equity of 16.47% and a net margin of 4.87%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $3.18 earnings per share. Research analysts anticipate that FedEx Co. will post 17.52 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be given a dividend of $1.26 per share. The ex-dividend date is Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.94%. FedEx’s dividend payout ratio (DPR) is presently 29.86%.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane purchased 200 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were acquired at an average cost of $253.22 per share, with a total value of $50,644.00. Following the completion of the acquisition, the director now directly owns 3,304 shares in the company, valued at $836,638.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other FedEx news, Director Amy B. Lane purchased 200 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were acquired at an average cost of $253.22 per share, with a total value of $50,644.00. Following the completion of the acquisition, the director now directly owns 3,304 shares in the company, valued at $836,638.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Thursday, December 28th. The stock was purchased at an average cost of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the acquisition, the executive vice president now directly owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The disclosure for this purchase can be found here. 8.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a research report on Wednesday, December 20th. Bank Of America (Bofa) upped their price target on FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research report on Monday, January 8th. StockNews.com lowered FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Finally, Stephens lowered their price target on FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $289.56.

Read Our Latest Stock Report on FedEx

FedEx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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