Morse Asset Management Inc Has $49,000 Stock Position in FedEx Co. (NYSE:FDX)

Morse Asset Management Inc lowered its holdings in FedEx Co. (NYSE:FDX) by 89.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175 shares of the shipping service provider’s stock after selling 1,525 shares during the period. Morse Asset Management Inc’s holdings in FedEx were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank grew its holdings in FedEx by 6.2% in the fourth quarter. Czech National Bank now owns 48,737 shares of the shipping service provider’s stock worth $13,711,000 after purchasing an additional 2,828 shares during the period. Aprio Wealth Management LLC raised its position in shares of FedEx by 11.4% in the fourth quarter. Aprio Wealth Management LLC now owns 1,369 shares of the shipping service provider’s stock valued at $385,000 after purchasing an additional 140 shares during the period. Fiduciary Alliance LLC grew its stake in FedEx by 5.1% during the fourth quarter. Fiduciary Alliance LLC now owns 1,256 shares of the shipping service provider’s stock valued at $353,000 after acquiring an additional 61 shares in the last quarter. Trust Co. of Toledo NA OH grew its stake in FedEx by 37.9% in the 4th quarter. Trust Co. of Toledo NA OH now owns 2,901 shares of the shipping service provider’s stock worth $816,000 after buying an additional 797 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.7%

NYSE FDX opened at $231.26 on Wednesday. The company has a market cap of $55.41 billion, a PE ratio of 14.74, a PEG ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a 50 day moving average of $223.98 and a 200-day moving average of $257.46.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.39%. FedEx’s dividend payout ratio is currently 34.63%.

Analysts Set New Price Targets

FDX has been the subject of several research reports. Raymond James decreased their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays cut their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. UBS Group dropped their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and cut their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Finally, BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.63.

Insider Buying and Selling at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.87% of the company’s stock.

FedEx Profile

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.