Stock Yards Bank & Trust Co. Has $970,000 Stock Position in FedEx Co. (NYSE:FDX)

Stock Yards Bank & Trust Co. reduced its position in FedEx Co. (NYSE:FDX) by 48.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,449 shares of the shipping service provider’s stock after selling 3,242 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in FedEx were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after acquiring an additional 67,502 shares in the last quarter. Franklin Resources Inc. boosted 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 worth $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares in the last quarter. Finally, Sentry LLC boosted its stake in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after acquiring an additional 5,404 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on 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 $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 currently owned by corporate insiders.

FedEx Price Performance

Shares of FDX stock opened at $247.34 on Tuesday. The firm has a market cap of $59.57 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.10 and a beta of 1.20. FedEx Co. has a 12 month low of $234.45 and a 12 month 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 stock has a 50-day moving average price of $279.62 and a 200 day moving average price of $282.02.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the company earned $3.99 EPS. FedEx’s revenue was down .7% on a year-over-year basis. Research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FDX. Stifel Nicolaus reduced their target price on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Bank of America boosted their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, UBS Group raised their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Company 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.