FedEx Corporation $FDX Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC decreased its holdings in FedEx Corporation (NYSE:FDXFree Report) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,235 shares of the shipping service provider’s stock after selling 9,486 shares during the quarter. Exchange Traded Concepts LLC’s holdings in FedEx were worth $14,222,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. New York State Teachers Retirement System increased its position in FedEx by 2.3% during the third quarter. New York State Teachers Retirement System now owns 207,077 shares of the shipping service provider’s stock worth $48,831,000 after purchasing an additional 4,734 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of FedEx by 10.6% in the 3rd quarter. D.A. Davidson & CO. now owns 48,424 shares of the shipping service provider’s stock valued at $11,419,000 after purchasing an additional 4,634 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of FedEx by 11.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock valued at $8,243,000 after buying an additional 3,514 shares during the period. Savant Capital LLC grew its stake in shares of FedEx by 32.5% during the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock valued at $9,437,000 after buying an additional 9,806 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of FedEx by 34.9% during the 3rd quarter. Pacer Advisors Inc. now owns 24,085 shares of the shipping service provider’s stock worth $5,679,000 after buying an additional 6,234 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting FedEx

Here are the key news stories impacting FedEx this week:

FedEx Trading Down 1.5%

NYSE:FDX opened at $344.23 on Friday. The business’s 50-day moving average is $355.42 and its two-hundred day moving average is $295.76. The firm has a market capitalization of $82.14 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $392.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

FedEx (NYSE:FDXGet Free Report) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter in the prior year, the business earned $4.51 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. Research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th will be given a $1.45 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $5.80 annualized dividend and a yield of 1.7%. FedEx’s dividend payout ratio (DPR) is 30.87%.

Analyst Ratings Changes

Several research analysts recently weighed in on FDX shares. Susquehanna increased their target price on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research report on Friday, March 20th. Wells Fargo & Company upped their price target on FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, December 19th. Bank of America boosted their target price on FedEx from $431.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, UBS Group increased their target price on shares of FedEx from $412.00 to $446.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.85.

Get Our Latest Stock Analysis on FedEx

FedEx Profile

(Free Report)

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

Recommended Stories

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.