First Manhattan Co. lifted its position in FedEx Co. (NYSE:FDX) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 586,659 shares of the shipping service provider’s stock after buying an additional 16,213 shares during the period. FedEx accounts for 0.8% of First Manhattan Co.’s investment portfolio, making the stock its 19th largest holding. First Manhattan Co.’s holdings in FedEx were worth $146,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after buying an additional 492,840 shares in the last quarter. FMR LLC raised its stake in FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. raised its stake in FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after buying an additional 266,660 shares in the last quarter. Capital World Investors raised its stake in FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after buying an additional 501,617 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in FedEx by 3.3% in the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after buying an additional 116,500 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

In related news, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,671 shares of company stock worth $17,137,160. 8.45% of the stock is owned by insiders.

FedEx Co. (NYSE FDX) traded down $0.37 during midday trading on Monday, hitting $273.95. The company had a trading volume of 510,697 shares, compared to its average volume of 1,899,085. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $274.66. The firm has a market cap of $73,170.00, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.62 and a beta of 1.36.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. During the same period in the prior year, the firm earned $2.80 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. sell-side analysts predict that FedEx Co. will post 13.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, December 8th. FedEx’s payout ratio is 18.38%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price target on the stock in a research report on Thursday. Bank of America reaffirmed a “buy” rating and set a $315.00 price target on shares of FedEx in a research report on Friday, January 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $300.00 price target on shares of FedEx in a research report on Monday, January 8th. Robert W. Baird reaffirmed a “buy” rating and set a $280.00 price target on shares of FedEx in a research report on Tuesday, January 9th. Finally, UBS Group raised FedEx from a “neutral” rating to a “buy” rating and upped their price target for the stock from $264.00 to $302.00 in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $270.49.

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FedEx Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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