Eagle Rock Investment Company LLC Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Eagle Rock Investment Company LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,233 shares of the shipping service provider’s stock after selling 86 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in FedEx were worth $3,160,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FDX. Geode Capital Management LLC grew its position in FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after acquiring an additional 67,502 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of FedEx by 8.6% during the third 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 during the period. Ameriprise Financial Inc. grew its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of FedEx by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after buying an additional 13,093 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $277.23 on Friday. The company has a 50 day simple moving average of $283.82 and a two-hundred day simple moving average of $284.25. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a market capitalization of $66.77 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the company earned $3.99 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

Analyst Ratings Changes

Several brokerages have weighed in on FDX. UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. 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 stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $325.61.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now 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. 8.87% of the stock is currently owned by insiders.

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.