MassMutual Private Wealth & Trust FSB Lowers Stock Position in FedEx Co. (NYSE:FDX)

MassMutual Private Wealth & Trust FSB trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 72.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,433 shares of the shipping service provider’s stock after selling 9,146 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in FedEx were worth $966,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IVC Wealth Advisors LLC raised its position in FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC increased its holdings in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC lifted its stake in shares of FedEx by 1.0% in the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after purchasing an additional 40 shares during the period. Finally, Evermay Wealth Management LLC boosted its holdings in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FDX. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and lifted their price target for the company from $288.00 to $365.00 in a research report on Friday, December 20th. Stephens reduced their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $325.61.

FedEx Price Performance

FedEx stock opened at $275.72 on Wednesday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. 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 50 day moving average price of $283.19 and a 200 day moving average price of $283.74. The company has a market cap of $66.41 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.14 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, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.99 EPS. Sell-side analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is currently 35.18%.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction 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 of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Profile

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.