Suntrust Banks Inc. Sells 12,444 Shares of FedEx Co. (FDX)

Suntrust Banks Inc. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 20.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,022 shares of the shipping service provider’s stock after selling 12,444 shares during the period. Suntrust Banks Inc.’s holdings in FedEx were worth $11,733,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in FedEx by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after purchasing an additional 492,840 shares during the last quarter. Prudential PLC increased its stake in FedEx by 25.8% during the second quarter. Prudential PLC now owns 52,403 shares of the shipping service provider’s stock valued at $11,389,000 after purchasing an additional 10,753 shares during the last quarter. Sirios Capital Management L P increased its stake in FedEx by 12.3% during the third quarter. Sirios Capital Management L P now owns 589,149 shares of the shipping service provider’s stock valued at $132,901,000 after purchasing an additional 64,637 shares during the last quarter. Sandy Spring Bank increased its stake in FedEx by 4.8% during the second quarter. Sandy Spring Bank now owns 3,241 shares of the shipping service provider’s stock valued at $705,000 after purchasing an additional 147 shares during the last quarter. Finally, BlueCrest Capital Management Ltd increased its stake in FedEx by 128.9% during the second quarter. BlueCrest Capital Management Ltd now owns 31,042 shares of the shipping service provider’s stock valued at $6,746,000 after purchasing an additional 17,478 shares during the last quarter. Hedge funds and other institutional investors own 74.01% of the company’s stock.

FDX has been the subject of several recent research reports. Loop Capital boosted their target price on shares of FedEx to $318.00 in a research note on Thursday, January 4th. Citigroup reissued a “buy” rating and set a $280.00 price target on shares of FedEx in a report on Wednesday, December 20th. Stephens set a $306.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. Bank of America boosted their price target on shares of FedEx from $247.00 to $293.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Wells Fargo & Co set a $275.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. FedEx currently has a consensus rating of “Buy” and an average target price of $272.69.

In related news, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the sale, the director now owns 16,040 shares of the company’s stock, valued at $4,267,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the sale, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock valued at $13,692,142 in the last ninety days. Corporate insiders own 8.45% of the company’s stock.

Shares of FedEx Co. (FDX) opened at $248.87 on Friday. The firm has a market cap of $65,177.54, a PE ratio of 22.62, a P/E/G ratio of 1.42 and a beta of 1.30. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $274.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.80 earnings per share. analysts forecast that FedEx Co. will post 13.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s payout ratio is currently 18.43%.

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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.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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