FedEx Co. (NYSE:FDX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in FedEx Co. (NYSE:FDX – Get Rating) by 35.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,667 shares of the shipping service provider’s stock after selling 17,620 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in FedEx were worth $8,190,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. OLD Mission Capital LLC purchased a new stake in shares of FedEx during the third quarter worth approximately $219,000. Morgan Stanley raised its stake in shares of FedEx by 17.8% during the second quarter. Morgan Stanley now owns 1,860,142 shares of the shipping service provider’s stock worth $554,936,000 after purchasing an additional 281,250 shares during the last quarter. Jag Capital Management LLC purchased a new stake in shares of FedEx during the third quarter worth approximately $2,202,000. Gateway Investment Advisers LLC raised its stake in shares of FedEx by 16.9% during the third quarter. Gateway Investment Advisers LLC now owns 3,451 shares of the shipping service provider’s stock worth $757,000 after purchasing an additional 498 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in FedEx by 46.5% in the third quarter. Trust Co. of Vermont now owns 3,297 shares of the shipping service provider’s stock worth $723,000 after acquiring an additional 1,047 shares in the last quarter. 77.76% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on FDX shares. Credit Suisse Group set a $294.00 price objective on FedEx in a research note on Friday, March 18th. StockNews.com began coverage on FedEx in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Citigroup reduced their price objective on FedEx from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. KeyCorp dropped their target price on FedEx from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, March 14th. Finally, JPMorgan Chase & Co. dropped their target price on FedEx from $297.00 to $282.00 and set an “overweight” rating on the stock in a report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Buy” and a consensus price target of $299.55.

FedEx stock opened at $201.52 on Monday. The stock has a 50-day simple moving average of $224.16 and a 200 day simple moving average of $235.91. The company has a quick ratio of 1.35, a current ratio of 1.39 and a debt-to-equity ratio of 0.83. FedEx Co. has a 12-month low of $199.03 and a 12-month high of $319.90. The stock has a market capitalization of $52.23 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.82 and a beta of 1.31.

FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The shipping service provider reported $4.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.64 by ($0.05). The business had revenue of $23.64 billion during the quarter, compared to the consensus estimate of $23.33 billion. FedEx had a net margin of 5.60% and a return on equity of 20.67%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.47 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 20.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Monday, March 7th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, March 4th. This represents a $3.00 annualized dividend and a yield of 1.49%. FedEx’s dividend payout ratio is currently 15.75%.

FedEx announced that its Board of Directors has authorized a stock buyback program on Thursday, December 16th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

FedEx Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

Recommended Stories