Cannon Wealth Management Services LLC Sells 55 Shares of FedEx Co. (NYSE:FDX)

Cannon Wealth Management Services LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,144 shares of the shipping service provider’s stock after selling 55 shares during the period. Cannon Wealth Management Services LLC’s holdings in FedEx were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Bryn Mawr Capital Management LLC increased its stake in FedEx by 22,317.0% in 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 during the period. Franklin Resources Inc. boosted its position in FedEx by 8.6% during 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 in the last quarter. KBC Group NV boosted its position in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares in the last quarter. World Investment Advisors LLC boosted its position in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares in the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in FedEx in the fourth quarter valued at about $49,445,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $253.97 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 company has a market capitalization of $61.17 billion, a PE ratio of 16.19, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a 12-month low of $239.07 and a 12-month high of $313.84. The business’s fifty day moving average price is $270.75 and its 200 day moving average price is $278.13.

FedEx (NYSE:FDX) last released its 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 return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the firm posted $3.99 EPS. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s payout ratio is 35.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Stephens reduced their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Stifel Nicolaus lowered their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Transactions at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase 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, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

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.