Swiss National Bank Sells 33,200 Shares of FedEx Co. (NYSE:FDX)

Swiss National Bank cut its holdings in FedEx Co. (NYSE:FDX) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 655,700 shares of the shipping service provider’s stock after selling 33,200 shares during the period. Swiss National Bank owned approximately 0.27% of FedEx worth $184,468,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FDX. Raymond James Financial Inc. bought a new stake in FedEx in the fourth quarter worth $234,028,000. ACR Alpine Capital Research LLC lifted its stake in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after acquiring an additional 321,141 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after acquiring an additional 226,608 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FDX shares. Stifel Nicolaus lowered their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price target on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. TD Cowen boosted their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. UBS Group boosted their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given 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 $318.04.

Insider Activity

In other news, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $240.74 on Friday. The firm has a 50-day simple moving average of $263.68 and a 200-day simple moving average of $274.89. The stock has a market capitalization of $57.98 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $239.50 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the prior year, the business earned $3.99 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

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.