MetLife Investment Advisors LLC lessened its stake in FedEx Co. (NYSE:FDX) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 69,334 shares of the shipping service provider’s stock after selling 1,445 shares during the period. MetLife Investment Advisors LLC’s holdings in FedEx were worth $11,186,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Elite Wealth Management Inc. raised its holdings in shares of FedEx by 1.9% in the fourth quarter. Elite Wealth Management Inc. now owns 3,191 shares of the shipping service provider’s stock valued at $515,000 after buying an additional 61 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of FedEx by 17.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 423 shares of the shipping service provider’s stock worth $68,000 after acquiring an additional 63 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of FedEx by 2.7% during the third quarter. Rehmann Capital Advisory Group now owns 2,423 shares of the shipping service provider’s stock worth $583,000 after acquiring an additional 64 shares during the period. Central Bank & Trust Co. increased its stake in shares of FedEx by 0.9% during the fourth quarter. Central Bank & Trust Co. now owns 8,402 shares of the shipping service provider’s stock worth $1,355,000 after acquiring an additional 74 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of FedEx by 1.3% during the fourth quarter. LS Investment Advisors LLC now owns 5,801 shares of the shipping service provider’s stock worth $936,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 71.73% of the company’s stock.
Several research analysts have weighed in on FDX shares. JPMorgan Chase & Co. restated a “buy” rating and set a $256.00 target price on shares of FedEx in a research report on Tuesday, December 18th. Berenberg Bank restated a “buy” rating and set a $245.00 target price on shares of FedEx in a research report on Monday, January 7th. Robert W. Baird reduced their price target on shares of FedEx from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. ValuEngine raised shares of FedEx from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 26th. Finally, UBS Group reduced their price objective on shares of FedEx from $234.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $214.19.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion for the quarter, compared to analyst estimates of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. FedEx’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.72 earnings per share. On average, analysts forecast that FedEx Co. will post 15.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $0.65 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.33%. FedEx’s payout ratio is currently 16.98%.
In related news, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now directly owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,000 shares of FedEx stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total transaction of $525,330.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,950 shares of company stock worth $35,170,622. Insiders own 8.50% of the company’s stock.
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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