FedEx Co. (NYSE:FDX) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,189 shares of the shipping service provider’s stock after selling 5,735 shares during the quarter. Neuberger Berman Group LLC’s holdings in FedEx were worth $11,431,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FDX. Sentry LLC acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $1,811,748,000. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter worth $700,291,000. Mizuho Markets Americas LLC bought a new position in shares of FedEx in the 3rd quarter worth about $496,611,000. FMR LLC boosted its holdings in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after buying an additional 916,555 shares during the period. Finally, International Assets Investment Management LLC raised its stake in FedEx by 33,890.5% during the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after acquiring an additional 649,680 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

NYSE FDX traded down $1.70 on Friday, reaching $247.59. The company’s stock had a trading volume of 1,096,590 shares, compared to its average volume of 1,253,289. The firm’s 50 day moving average is $266.81 and its two-hundred day moving average is $256.76. The stock has a market cap of $60.93 billion, a PE ratio of 14.28, a PEG ratio of 1.03 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.41 earnings per share. As a group, sell-side analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its board has authorized a stock buyback plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last three months. 8.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stifel Nicolaus lowered their target price on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. The Goldman Sachs Group increased their target price on FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley boosted their price target on shares of FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a report on Wednesday, March 27th. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $300.74.

About FedEx

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.