EverSource Wealth Advisors LLC cut its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,875 shares of the shipping service provider's stock after selling 5,634 shares during the period. EverSource Wealth Advisors LLC's holdings in FedEx were worth $1,934,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the fourth quarter valued at about $28,000. City Holding Co. bought a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx during the fourth quarter valued at about $29,000. 84.47% of the stock is currently owned by institutional investors.
FedEx Stock Performance
NYSE:FDX opened at $243.66 on Thursday. The firm has a market cap of $58.69 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The business has a 50 day moving average price of $264.35 and a 200-day moving average price of $275.13.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.99 earnings per share. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's payout ratio is 35.18%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on FDX shares. Barclays upped their price target on FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. BNP Paribas upgraded shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Raymond James cut shares of FedEx from an "outperform" rating to a "market perform" rating in a research report on Monday, February 3rd. Sanford C. Bernstein cut shares of FedEx from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $318.58.
Read Our Latest Stock Report on FDX
Insider Buying and Selling
In other FedEx news, Director Amy B. Lane purchased 333 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company's stock, valued at $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction 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 completion of 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 disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.
About FedEx
(
Free Report)
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.
Further Reading
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