FedEx Co. (NYSE:FDX) Stock Position Lifted by Gries Financial LLC

Gries Financial LLC increased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,780 shares of the shipping service provider's stock after buying an additional 1,252 shares during the quarter. Gries Financial LLC's holdings in FedEx were worth $2,470,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC lifted its position in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC raised its stake in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after buying an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. purchased a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter worth $31,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy B. Lane bought 333 shares of the firm's stock in a transaction dated Thursday, December 26th. The stock was purchased 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 approximately $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company's stock.

FedEx Trading Down 2.6 %

Shares of FDX traded down $7.19 during mid-day trading on Thursday, hitting $267.87. The company had a trading volume of 1,597,746 shares, compared to its average volume of 1,504,824. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The business's 50-day simple moving average is $280.84 and its 200-day simple moving average is $282.81. The stock has a market cap of $64.52 billion, a PE ratio of 17.16, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the business earned $3.99 EPS. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, December 9th. FedEx's dividend payout ratio is presently 35.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FDX shares. Loop Capital raised FedEx from a "hold" rating to a "buy" rating and raised their target price for the company from $288.00 to $365.00 in a report on Friday, December 20th. TD Cowen raised their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Citigroup upped their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. BMO Capital Markets lifted their price target on shares of FedEx from $300.00 to $330.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $325.43.

FedEx Company 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.