FedEx Co. (FDX) Holdings Reduced by Suffolk Capital Management LLC

Suffolk Capital Management LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,696 shares of the shipping service provider’s stock after selling 7,033 shares during the quarter. FedEx makes up about 2.3% of Suffolk Capital Management LLC’s holdings, making the stock its 7th biggest position. Suffolk Capital Management LLC’s holdings in FedEx were worth $17,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of FedEx during the 4th quarter worth $125,000. Krilogy Financial LLC boosted its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx during the 3rd quarter worth $132,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in shares of FedEx during the 3rd quarter worth $136,000. 74.01% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Barclays reiterated an “overweight” rating and issued a $270.00 price objective (up from $230.00) on shares of FedEx in a research report on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of FedEx in a research report on Monday, November 13th. They issued a “buy” rating and a $270.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of FedEx from $221.00 to $272.00 and gave the company a “hold” rating in a report on Wednesday, December 20th. Finally, Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. FedEx has a consensus rating of “Buy” and an average price target of $275.04.

FedEx Co. (NYSE FDX) traded up $6.79 during trading on Friday, hitting $252.22. The stock had a trading volume of 1,786,253 shares, compared to its average volume of 1,840,000. FedEx Co. has a 12 month low of $182.89 and a 12 month high of $274.66. The stock has a market cap of $67,570.00, a PE ratio of 23.18, a P/E/G ratio of 1.47 and a beta of 1.30. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. During the same period last year, the business posted $2.80 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. equities analysts forecast that FedEx Co. will post 13.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is presently 18.38%.

In other FedEx news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the sale, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the sale, the executive vice president now directly owns 187,025 shares in the company, valued at $46,892,778.25. The disclosure for this sale can be found here. Insiders have sold 53,541 shares of company stock worth $13,692,142 over the last 90 days. 8.45% of the stock is currently owned by company insiders.

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FedEx Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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