Callahan Advisors LLC Trims Stock Position in FedEx Co. (NYSE:FDX)

Callahan Advisors LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,008 shares of the shipping service provider’s stock after selling 366 shares during the period. FedEx accounts for approximately 1.8% of Callahan Advisors LLC’s portfolio, making the stock its 13th largest holding. Callahan Advisors LLC’s holdings in FedEx were worth $19,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. purchased a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Bank of America increased their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Price Performance

FDX opened at $267.83 on Tuesday. The company has a fifty day simple moving average of $272.17 and a 200 day simple moving average of $278.71. The firm has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. 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 (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, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $3.99 EPS. Equities research analysts expect 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 will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction that occurred 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 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. Company insiders own 8.87% of the company’s stock.

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.