FedEx Co. (NYSE:FDX) Position Trimmed by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its holdings in FedEx Co. (NYSE:FDX) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,895 shares of the shipping service provider’s stock after selling 137 shares during the quarter. Summit Investment Advisors Inc.’s holdings in FedEx were worth $3,909,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FDX. Cetera Trust Company N.A boosted its holdings in FedEx by 0.5% during the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares during the period. Griffin Asset Management Inc. lifted its position in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares during the last quarter. Aviso Financial Inc. boosted its stake in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares during the period. Richard P Slaughter Associates Inc grew its holdings in FedEx by 0.5% in the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after buying an additional 42 shares during the last quarter. Finally, WealthPlan Investment Management LLC increased its position in FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after buying an additional 42 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX stock opened at $207.46 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $49.71 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. The firm’s 50 day moving average is $244.07 and its 200-day moving average is $265.74. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.66%. FedEx’s dividend payout ratio is currently 34.63%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FDX. Raymond James lowered their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus dropped their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Barclays lowered their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The stock was 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 $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.