Wedge Capital Management L L P NC Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Wedge Capital Management L L P NC grew its holdings in FedEx Co. (NYSE:FDX) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,836 shares of the shipping service provider’s stock after acquiring an additional 3,697 shares during the period. Wedge Capital Management L L P NC’s holdings in FedEx were worth $9,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in FedEx by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 1,685 shares of the shipping service provider’s stock worth $505,000 after purchasing an additional 75 shares during the last quarter. Ieq Capital LLC grew its holdings in shares of FedEx by 4.9% during the second quarter. Ieq Capital LLC now owns 13,838 shares of the shipping service provider’s stock worth $4,149,000 after buying an additional 647 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in FedEx by 17.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,489 shares of the shipping service provider’s stock valued at $5,544,000 after acquiring an additional 2,784 shares during the period. AE Wealth Management LLC raised its stake in FedEx by 49.0% during the 2nd quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after acquiring an additional 948 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its position in FedEx by 99.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,594 shares of the shipping service provider’s stock worth $1,384,000 after acquiring an additional 2,292 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were 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. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Trading Down 0.8 %

Shares of NYSE FDX opened at $275.11 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average price is $283.48 and its two-hundred day moving average price is $284.04. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a market capitalization of $66.26 billion, a P/E ratio of 17.53, a PEG ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.2 earnings per share for the current fiscal year.

FedEx Announces Dividend

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

Wall Street Analyst Weigh In

FDX has been the subject of several analyst reports. BMO Capital Markets upped their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stifel Nicolaus raised their target price on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $325.61.

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.