Marble Harbor Investment Counsel LLC Trims Holdings in FedEx Co. (NYSE:FDX)

Marble Harbor Investment Counsel LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,050 shares of the shipping service provider’s stock after selling 100 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in FedEx were worth $577,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI raised its position in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in FedEx by 4.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares in the last quarter. Harbour Investments Inc. raised its holdings in FedEx by 1.5% in the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after purchasing an additional 40 shares in the last quarter. Cetera Trust Company N.A raised its holdings in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its stake in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. UBS Group raised their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus reduced their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $318.58.

FedEx Stock Performance

Shares of FDX opened at $253.80 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a one year low of $242.92 and a one year high of $313.84. The firm has a market capitalization of $61.13 billion, a P/E ratio of 16.18, a PEG ratio of 1.11 and a beta of 1.23. The business has a fifty day moving average of $266.55 and a 200 day moving average of $276.26.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.99 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

Insider Activity

In related news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred 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 transaction, the director now 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 ownership of the stock. The disclosure for this sale 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.