Everence Capital Management Inc. Has $1.51 Million Stake in FedEx Co. (NYSE:FDX)

Everence Capital Management Inc. cut its stake in FedEx Co. (NYSE:FDX) by 34.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,370 shares of the shipping service provider’s stock after selling 2,860 shares during the period. Everence Capital Management Inc.’s holdings in FedEx were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the third quarter valued at approximately $31,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in FedEx in the third quarter valued at $47,000. Finally, Sachetta LLC increased its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $274.41 on Friday. The firm has a 50-day moving average price of $283.82 and a two-hundred day moving average price of $283.56. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a market capitalization of $66.09 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

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 business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.99 earnings per share. Analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s dividend payout ratio is 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on FDX shares. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group raised their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.88.

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.