Crowley Wealth Management Inc. Takes $2.63 Million Position in FedEx Co. (NYSE:FDX)

Crowley Wealth Management Inc. purchased a new position in FedEx Co. (NYSE:FDX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,340 shares of the shipping service provider's stock, valued at approximately $2,628,000. FedEx comprises about 2.3% of Crowley Wealth Management Inc.'s holdings, making the stock its 12th largest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its position in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the fourth quarter worth approximately $28,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the 4th quarter valued at $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 0.5 %

NYSE:FDX traded down $1.13 during mid-day trading on Tuesday, hitting $241.19. 2,666,698 shares of the company's stock were exchanged, compared to its average volume of 1,691,409. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The business has a fifty day moving average price of $259.31 and a 200 day moving average price of $272.04. The company has a market cap of $58.09 billion, a PE ratio of 15.37, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

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FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the firm earned $3.86 earnings per share. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio is presently 34.63%.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 3,980 shares of the company'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 transaction, the director now directly owns 8,904 shares of the company's stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on FDX shares. Loop Capital downgraded shares of FedEx from a "hold" rating to a "sell" rating and lowered their price target for the stock from $283.00 to $221.00 in a research note on Friday. Bank of America dropped their target price on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a report on Friday. TD Cowen reduced their price target on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday. Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $300.60.

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.