Excalibur Management Corp Sells 187 Shares of FedEx Co. (NYSE:FDX)

Excalibur Management Corp decreased its holdings in FedEx Co. (NYSE:FDX) by 2.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,232 shares of the shipping service provider’s stock after selling 187 shares during the quarter. FedEx accounts for about 0.9% of Excalibur Management Corp’s holdings, making the stock its 27th biggest position. Excalibur Management Corp’s holdings in FedEx were worth $2,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Cetera Trust Company N.A boosted its holdings in shares of FedEx by 0.5% during 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 buying an additional 40 shares during the period. Griffin Asset Management Inc. boosted its holdings in shares of FedEx by 0.4% during the fourth 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 during the period. Aviso Financial Inc. grew its position in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares during the last quarter. Richard P Slaughter Associates Inc increased its stake in shares of FedEx by 0.5% during the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after purchasing an additional 42 shares during the period. Finally, WealthPlan Investment Management LLC lifted its holdings in FedEx by 2.6% during the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after purchasing an additional 42 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’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 completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Price Performance

FDX stock opened at $241.19 on Wednesday. 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 company has a market capitalization of $58.09 billion, a P/E ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23. The business has a 50 day simple moving average of $258.58 and a 200-day simple moving average of $271.75. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.86 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Raymond James cut their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Citigroup decreased their price target on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $300.60.

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.