Allworth Financial LP Acquires 3,844 Shares of FedEx Co. (NYSE:FDX)

Allworth Financial LP boosted its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 69.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,383 shares of the shipping service provider's stock after buying an additional 3,844 shares during the period. Allworth Financial LP's holdings in FedEx were worth $2,537,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC lifted its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter worth about $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth about $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx during the fourth quarter worth about $28,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Down 5.4 %

Shares of FDX stock traded down $14.49 during midday trading on Friday, reaching $253.97. 4,329,771 shares of the stock were exchanged, compared to its average volume of 1,697,695. FedEx Co. has a 1 year low of $239.07 and a 1 year high of $313.84. The company's 50 day moving average is $270.75 and its two-hundred day moving average is $278.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market cap of $61.17 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts' consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the business earned $3.99 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx's dividend payout ratio (DPR) is 35.18%.

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company's stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FDX shares. Raymond James lifted their price target on FedEx from $305.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. TD Cowen lifted their price objective on FedEx from $328.00 to $337.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Stephens decreased their price objective on FedEx from $350.00 to $345.00 and set an "overweight" rating on the stock in a report on Friday, December 20th. Citigroup lifted their price objective on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus decreased their price objective on FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average price target of $321.87.

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.