Hanson & Doremus Investment Management Lowers Position in FedEx Co. (NYSE:FDX)

Hanson & Doremus Investment Management reduced its position in shares of FedEx Co. (NYSE:FDX) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,830 shares of the shipping service provider’s stock after selling 187 shares during the period. Hanson & Doremus Investment Management’s holdings in FedEx were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after acquiring an additional 647,926 shares during the period. Franklin Resources Inc. increased its stake in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. KBC Group NV raised its holdings in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after purchasing an additional 226,608 shares during the last quarter. World Investment Advisors LLC grew its holdings in FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new position in shares of FedEx in the fourth quarter valued at $49,445,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of research reports. BMO Capital Markets increased their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Raymond James raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. TD Cowen increased their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and raised their price target for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. Finally, UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $325.43.

FedEx Trading Down 1.2 %

Shares of FDX stock opened at $275.34 on Thursday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm’s 50 day moving average price is $281.09 and its two-hundred day moving average price is $282.86. The stock has a market cap of $66.32 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the prior year, the company earned $3.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the 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 in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the company’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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Company 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.