Hartford Investment Management Co. Lowers Stock Position in FedEx Co. (NYSE:FDX)

Hartford Investment Management Co. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,884 shares of the shipping service provider’s stock after selling 301 shares during the period. Hartford Investment Management Co.’s holdings in FedEx were worth $3,906,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FDX. IVC Wealth Advisors LLC raised its position in FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC increased its holdings in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC lifted its stake in shares of FedEx by 1.0% in the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after purchasing an additional 40 shares during the period. Finally, Evermay Wealth Management LLC boosted its holdings in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Up 0.7 %

Shares of NYSE:FDX opened at $262.96 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market cap of $63.33 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.07 and a beta of 1.18. The stock’s 50-day moving average price is $273.38 and its two-hundred day moving average price is $279.68. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released its 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 business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.10%. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling

In other FedEx news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % 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.

Analysts Set New Price Targets

FDX has been the subject of a number of research analyst reports. TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup lifted their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays lifted their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

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.