Sumitomo Life Insurance Co. Reduces Position in FedEx Co. (NYSE:FDX)

Sumitomo Life Insurance Co. reduced its position in shares of FedEx Co. (NYSE:FDX) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,754 shares of the shipping service provider’s stock after selling 147 shares during the period. Sumitomo Life Insurance Co.’s holdings in FedEx were worth $775,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FDX. Fortitude Family Office LLC lifted its holdings in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx during the fourth quarter worth approximately $28,000. City Holding Co. acquired a new position in FedEx in the fourth quarter valued at approximately $28,000. Finally, Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter valued at approximately $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 1.2 %

Shares of FDX opened at $275.34 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. 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 firm has a 50 day simple moving average of $281.09 and a 200-day simple moving average of $282.86.

FedEx (NYSE:FDX) last released 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. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.99 earnings per share. Equities analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Raymond James upped their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Citigroup lifted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus dropped their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $325.43.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction dated Tuesday, January 14th. The stock was 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 in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 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.