Eastern Bank Trims Stake in FedEx Co. (NYSE:FDX)

Eastern Bank lowered its holdings in FedEx Co. (NYSE:FDX) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 963 shares of the shipping service provider’s stock after selling 140 shares during the quarter. Eastern Bank’s holdings in FedEx were worth $271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of FedEx in the third quarter valued at $3,405,000. Czech National Bank grew its stake in shares of FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of FedEx in the second quarter valued at $9,226,000. Raymond James & Associates grew its stake in shares of FedEx by 6.9% in the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after buying an additional 31,241 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its stake in FedEx by 52.2% during the 4th quarter. CWA Asset Management Group LLC now owns 6,563 shares of the shipping service provider’s stock worth $1,846,000 after purchasing an additional 2,251 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.1 %

FedEx stock opened at $277.63 on Wednesday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market capitalization of $66.87 billion, a P/E ratio of 17.13, a PEG ratio of 1.18 and a beta of 1.20. The stock has a 50-day simple moving average of $283.89 and a 200-day simple moving average of $284.31.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during 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 revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.99 EPS. Equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, 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 owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on FDX. Barclays boosted their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. BMO Capital Markets boosted their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $325.61.

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.