First Citizens Bank & Trust Co. Sells 828 Shares of FedEx Co. (NYSE:FDX)

First Citizens Bank & Trust Co. reduced its stake in FedEx Co. (NYSE:FDX) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,144 shares of the shipping service provider’s stock after selling 828 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in FedEx were worth $2,572,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $3,405,000. Czech National Bank boosted its position in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Wedmont Private Capital raised its stake in shares of FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the last quarter. Persium Advisors LLC bought a new position in shares of FedEx during the fourth quarter valued at $530,000. Finally, Magnolia Capital Advisors LLC bought a new position in shares of FedEx during the second quarter valued at $9,226,000. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

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

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. UBS Group lifted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report 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 report on Friday, December 20th. Stifel Nicolaus cut their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx Trading Up 1.1 %

NYSE:FDX opened at $273.12 on Monday. The company has a fifty day moving average of $281.64 and a 200 day moving average of $283.20. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $65.78 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the business earned $3.99 EPS. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.

About FedEx

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.