FedEx Co. (NYSE:FDX) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC lowered its position in FedEx Co. (NYSE:FDX) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,544 shares of the shipping service provider’s stock after selling 2,789 shares during the quarter. Legato Capital Management LLC’s holdings in FedEx were worth $1,560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avion Wealth grew its stake in shares of FedEx by 424.0% during the fourth quarter. Avion Wealth now owns 131 shares of the shipping service provider’s stock worth $36,000 after purchasing an additional 106 shares in the last quarter. Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter worth about $28,000. Portfolio Design Labs LLC boosted its position in shares of FedEx by 29.1% during the 4th quarter. Portfolio Design Labs LLC now owns 9,347 shares of the shipping service provider’s stock worth $2,630,000 after acquiring an additional 2,108 shares in the last quarter. Edmp Inc. increased its holdings in shares of FedEx by 1.6% in the 4th quarter. Edmp Inc. now owns 4,964 shares of the shipping service provider’s stock valued at $1,397,000 after acquiring an additional 80 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of FedEx in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup upped 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. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Buying and Selling at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, 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 corporate insiders.

FedEx Stock Up 0.7 %

Shares of NYSE:FDX opened at $262.96 on Thursday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is $273.38 and its 200-day simple moving average is $279.68. The company has a market cap of $63.33 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for 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 firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 EPS. As a group, equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is 35.18%.

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.