FedEx Co. (FDX) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 20.0% during the 4th quarter, Holdings Channel reports. The firm owned 21,857 shares of the shipping service provider’s stock after selling 5,460 shares during the period. Cullinan Associates Inc.’s holdings in FedEx were worth $3,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Rehmann Capital Advisory Group lifted its holdings in shares of FedEx by 2.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,423 shares of the shipping service provider’s stock worth $583,000 after acquiring an additional 64 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of FedEx by 0.5% during the 4th quarter. Moody National Bank Trust Division now owns 26,169 shares of the shipping service provider’s stock worth $4,222,000 after acquiring an additional 127 shares during the period. Cornerstone Advisors Inc. lifted its holdings in shares of FedEx by 21.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 787 shares of the shipping service provider’s stock worth $190,000 after acquiring an additional 140 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of FedEx by 101.8% during the 4th quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after acquiring an additional 223 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of FedEx by 10.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,422 shares of the shipping service provider’s stock worth $583,000 after acquiring an additional 233 shares during the period. Institutional investors own 72.44% of the company’s stock.

Shares of FDX stock opened at $170.99 on Friday. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $274.66. The stock has a market cap of $44.53 billion, a P/E ratio of 11.17, a PEG ratio of 0.84 and a beta of 1.63. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.05 by ($0.02). The company had revenue of $17.82 billion during the quarter, compared to analyst estimates of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same quarter in the previous year, the business posted $3.18 EPS. On average, equities research analysts expect that FedEx Co. will post 15.91 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, December 7th. FedEx’s payout ratio is presently 16.98%.

A number of research firms have recently commented on FDX. Credit Suisse Group set a $307.00 price objective on shares of FedEx and gave the stock a “buy” rating in a report on Tuesday, September 18th. JPMorgan Chase & Co. reissued a “buy” rating and set a $305.00 price target on shares of FedEx in a report on Tuesday, September 18th. Morgan Stanley reissued a “hold” rating and set a $242.00 price target (down from $245.00) on shares of FedEx in a report on Tuesday, September 18th. Berenberg Bank started coverage on shares of FedEx in a report on Friday, September 21st. They set a “buy” rating and a $300.00 price target for the company. Finally, Loop Capital lifted their price target on shares of FedEx to $318.00 and gave the company a “buy” rating in a report on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company. FedEx has an average rating of “Buy” and a consensus price target of $237.75.

In related news, Director David P. Steiner acquired 7,000 shares of the stock in a transaction on Wednesday, January 2nd. The stock was purchased at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the transaction, the director now owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan Patricia Griffith acquired 1,000 shares of the stock in a transaction on Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.

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FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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