Intech Investment Management LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

Intech Investment Management LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 62.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,100 shares of the shipping service provider’s stock after selling 59,244 shares during the period. Intech Investment Management LLC’s holdings in FedEx were worth $10,156,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI raised its position in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares in the last quarter. Cetera Trust Company N.A raised its position in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after acquiring an additional 40 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after acquiring an additional 40 shares in the last quarter. Aviso Financial Inc. raised its position in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after acquiring an additional 40 shares in the last quarter. Finally, Richard P Slaughter Associates Inc raised its position in shares of FedEx by 0.5% in the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane purchased 333 shares of the stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of several recent analyst reports. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and reduced their target price for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $318.04.

FedEx Stock Up 1.3 %

Shares of FDX opened at $245.46 on Tuesday. The company has a market capitalization of $59.12 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23. The stock’s 50-day moving average price is $262.47 and its 200-day moving average price is $273.86. 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 quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.99 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm 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. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. FedEx’s dividend payout ratio is currently 35.18%.

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.