Bristol John W & Co. Inc. NY Decreases Stake in FedEx Co. (FDX)

Bristol John W & Co. Inc. NY lowered its position in shares of FedEx Co. (NYSE:FDX) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 326,116 shares of the shipping service provider’s stock after selling 15,921 shares during the period. FedEx makes up about 2.3% of Bristol John W & Co. Inc. NY’s investment portfolio, making the stock its 15th biggest position. Bristol John W & Co. Inc. NY’s holdings in FedEx were worth $81,379,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Grove Bank & Trust lifted its position in FedEx by 14.2% during the 2nd quarter. Grove Bank & Trust now owns 789 shares of the shipping service provider’s stock worth $171,000 after acquiring an additional 98 shares in the last quarter. Busey Trust CO acquired a new position in FedEx during the 2nd quarter worth approximately $234,000. Ingalls & Snyder LLC lifted its position in FedEx by 79.6% during the 2nd quarter. Ingalls & Snyder LLC now owns 8,001 shares of the shipping service provider’s stock worth $1,739,000 after acquiring an additional 3,545 shares in the last quarter. Parsec Financial Management Inc. lifted its position in FedEx by 3.8% during the 2nd quarter. Parsec Financial Management Inc. now owns 20,483 shares of the shipping service provider’s stock worth $4,452,000 after acquiring an additional 743 shares in the last quarter. Finally, First Manhattan Co. lifted its position in FedEx by 17.9% during the 2nd quarter. First Manhattan Co. now owns 567,611 shares of the shipping service provider’s stock worth $123,358,000 after acquiring an additional 86,150 shares in the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.

Shares of FedEx Co. (NYSE:FDX) opened at $268.01 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. The stock has a market capitalization of $71,800.00, a P/E ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 1.36. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $271.39.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.80 EPS. research analysts predict that FedEx Co. will post 13.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, December 8th. FedEx’s dividend payout ratio is currently 18.38%.

Several research firms recently commented on FDX. BMO Capital Markets reissued a “buy” rating and set a $300.00 price target on shares of FedEx in a research report on Monday. Robert W. Baird reissued a “buy” rating and set a $280.00 price target on shares of FedEx in a research report on Tuesday. Zacks Investment Research raised FedEx from a “hold” rating to a “buy” rating and set a $297.00 price target on the stock in a research report on Friday, January 5th. UBS Group raised FedEx from a “neutral” rating to a “buy” rating and upped their target price for the company from $264.00 to $302.00 in a research report on Friday, January 5th. Finally, Loop Capital upped their target price on FedEx to $318.00 in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the stock. FedEx currently has a consensus rating of “Buy” and a consensus price target of $269.04.

In related news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the sale, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were 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 in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,671 shares of company stock worth $17,137,160. Corporate insiders own 8.45% of the company’s stock.

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About FedEx

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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