Cannell & Spears LLC Has $33.04 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Cannell & Spears LLC trimmed its position in FedEx Co. (NYSE:FDX) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 117,453 shares of the shipping service provider’s stock after selling 1,389 shares during the period. Cannell & Spears LLC’s holdings in FedEx were worth $33,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares 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 lifted its holdings in shares of FedEx by 2.6% during the fourth 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 last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.9 %

Shares of NYSE:FDX opened at $241.75 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market cap of $57.92 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a 50 day moving average of $256.59 and a 200-day moving average of $270.89. FedEx Co. has a one year low of $217.22 and a one year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results 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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the firm posted $3.86 EPS. FedEx’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.28%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FDX shares. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and cut their target price for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and dropped their price target for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Barclays lowered their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. Finally, TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

Insider Buying and Selling

In related news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired 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 owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by company insiders.

FedEx 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.