WASHINGTON TRUST Co Sells 449 Shares of FedEx Co. (NYSE:FDX)

WASHINGTON TRUST Co lessened its holdings in FedEx Co. (NYSE:FDX) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,229 shares of the shipping service provider’s stock after selling 449 shares during the quarter. WASHINGTON TRUST Co’s holdings in FedEx were worth $8,786,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its position in shares of 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 period. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new position in FedEx in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction 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 position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup increased their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Raymond James increased their price target 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $321.87.

FedEx Price Performance

Shares of NYSE FDX opened at $267.83 on Friday. The company has a fifty day moving average price of $272.65 and a 200 day moving average price of $279.45. The firm has a market cap of $64.51 billion, a PE ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

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, topping the consensus estimate 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%. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.99 earnings per share. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. FedEx’s dividend payout ratio is presently 35.18%.

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.