FedEx Co. (NYSE:FDX) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its stake in FedEx Co. (NYSE:FDX) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,233 shares of the shipping service provider’s stock after selling 112 shares during the period. Brown Brothers Harriman & Co.’s holdings in FedEx were worth $4,567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Norges Bank acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new position in FedEx in the 4th quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC raised its holdings in FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its position in FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after purchasing an additional 321,141 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in FedEx by 8.6% in 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 last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FDX shares. Citigroup cut their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and reduced their price target for the company from $300.00 to $275.00 in a report on Monday, March 24th. BMO Capital Markets dropped their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s 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 sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. Corporate insiders own 8.87% of the company’s stock.

FedEx Price Performance

FDX stock opened at $241.75 on Friday. The stock has a 50-day moving average price of $256.59 and a two-hundred day moving average price of $270.98. The company has a market cap of $57.92 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. 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 12-month low of $217.22 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 EPS. As a group, research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. FedEx’s dividend payout ratio (DPR) is 34.63%.

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.