Lmcg Investments LLC Sells 13,757 Shares of FedEx Co. (NYSE:FDX)

Lmcg Investments LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 28.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,232 shares of the shipping service provider’s stock after selling 13,757 shares during the quarter. Lmcg Investments LLC’s holdings in FedEx were worth $9,912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of 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 acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx in the 4th quarter worth approximately $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FDX shares. UBS Group boosted their price objective on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Raymond James boosted their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Price Performance

FedEx stock opened at $275.11 on Tuesday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The business’s fifty day moving average is $283.48 and its two-hundred day moving average is $283.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $66.26 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the business earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, 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. Company insiders own 8.87% of the company’s stock.

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.