Greenleaf Trust Sells 943 Shares of FedEx Co. (NYSE:FDX)

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Greenleaf Trust reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,479 shares of the shipping service provider’s stock after selling 943 shares during the quarter. Greenleaf Trust’s holdings in FedEx were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FDX. Oregon Public Employees Retirement Fund lifted its stake in FedEx by 15,104.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after purchasing an additional 13,970,642 shares during the last quarter. Norges Bank bought a new position in FedEx during the fourth quarter worth $303,958,000. LSV Asset Management lifted its stake in FedEx by 39.7% during the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock worth $360,441,000 after purchasing an additional 564,452 shares during the last quarter. Lakewood Capital Management LP lifted its stake in FedEx by 102.8% during the fourth quarter. Lakewood Capital Management LP now owns 943,200 shares of the shipping service provider’s stock worth $152,166,000 after purchasing an additional 478,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in FedEx by 21.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after buying an additional 418,451 shares during the period. Institutional investors own 69.25% of the company’s stock.

In related news, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total value of $525,330.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,650 shares of company stock worth $34,751,470. 8.50% of the stock is owned by corporate insiders.

Several equities research analysts have weighed in on FDX shares. UBS Group dropped their target price on FedEx from $161.00 to $145.00 and set a “sell” rating on the stock in a research report on Friday, May 31st. Berenberg Bank lowered FedEx from a “buy” rating to a “hold” rating and dropped their target price for the stock from $245.00 to $200.00 in a research report on Monday, April 1st. JPMorgan Chase & Co. lowered FedEx from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $227.00 to $202.00 in a research report on Wednesday, March 20th. Credit Suisse Group raised their price target on FedEx from $236.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Cowen reissued an “outperform” rating and set a $237.00 price target (down from $242.00) on shares of FedEx in a report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $202.43.

NYSE:FDX traded up $2.62 during mid-day trading on Tuesday, reaching $166.34. 2,162,022 shares of the stock were exchanged, compared to its average volume of 2,024,793. The firm has a market cap of $43.54 billion, a P/E ratio of 10.86, a PEG ratio of 0.79 and a beta of 1.69. FedEx Co. has a 1-year low of $150.68 and a 1-year high of $261.51. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The firm had revenue of $17.01 billion for the quarter, compared to analyst estimates of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. FedEx’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.72 earnings per share. Sell-side analysts expect that FedEx Co. will post 15.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 21st. FedEx’s payout ratio is currently 16.98%.

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About FedEx

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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