Parkside Investments LLC Sells 10,894 Shares of FedEx Co. (NYSE:FDX)

Parkside Investments LLC decreased its position in shares of FedEx Co. (NYSE:FDX – Get Rating) by 19.9% during the 4th quarter, Holdings Channel reports. The fund owned 43,887 shares of the shipping service provider’s stock after selling 10,894 shares during the quarter. FedEx accounts for about 1.5% of Parkside Investments LLC’s investment portfolio, making the stock its 28th biggest holding. Parkside Investments LLC’s holdings in FedEx were worth $7,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedbush Securities Inc. boosted its stake in FedEx by 26.7% during the 3rd quarter. Wedbush Securities Inc. now owns 8,998 shares of the shipping service provider’s stock worth $1,336,000 after acquiring an additional 1,898 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in FedEx by 12.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 112,949 shares of the shipping service provider’s stock worth $16,770,000 after buying an additional 12,455 shares during the period. Raymond James & Associates raised its holdings in FedEx by 5.8% during the 3rd quarter. Raymond James & Associates now owns 348,770 shares of the shipping service provider’s stock worth $51,784,000 after buying an additional 19,145 shares during the period. Benjamin Edwards Inc. raised its holdings in FedEx by 14.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,697 shares of the shipping service provider’s stock worth $400,000 after buying an additional 337 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in FedEx by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 793,357 shares of the shipping service provider’s stock worth $117,790,000 after buying an additional 32,968 shares during the period. Institutional investors own 72.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FDX shares. Credit Suisse Group raised their target price on shares of FedEx from $257.00 to $269.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus raised their target price on shares of FedEx from $222.00 to $242.00 in a report on Friday. Susquehanna raised their target price on shares of FedEx from $170.00 to $225.00 in a report on Friday. Barclays raised their target price on shares of FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of FedEx from $225.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $230.75.

Insiders Place Their Bets

In related news, Director Amy B. Lane acquired 280 shares of FedEx stock in a transaction on Tuesday, January 3rd. The stock was purchased at an average cost of $175.83 per share, with a total value of $49,232.40. Following the completion of the transaction, the director now directly owns 1,529 shares in the company, valued at approximately $268,844.07. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 8.62% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $220.31 on Friday. FedEx Co. has a 1-year low of $141.92 and a 1-year high of $248.76. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $201.14 and a 200 day simple moving average of $181.41. The stock has a market capitalization of $55.61 billion, a PE ratio of 19.03, a P/E/G ratio of 1.26 and a beta of 1.31.

FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. FedEx had a net margin of 3.23% and a return on equity of 17.71%. The firm had revenue of $22.17 billion during the quarter, compared to analysts’ expectations of $22.74 billion. During the same period in the previous year, the business posted $4.59 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 15 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.60 dividend on an annualized basis and a yield of 2.09%. FedEx’s dividend payout ratio (DPR) is 39.72%.

FedEx Company Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.