Meriwether Wealth & Planning LLC Invests $325,000 in FedEx Co. (NYSE:FDX)

Meriwether Wealth & Planning LLC acquired a new position in FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,156 shares of the shipping service provider's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in 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 acquiring an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in FedEx in the 4th quarter worth approximately $28,000. City Holding Co. purchased a new stake in FedEx during the 4th quarter valued at approximately $28,000. Kentucky Trust Co bought a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the fourth quarter worth $29,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FDX has been the subject of a number of research analyst reports. TD Cowen raised their price objective on FedEx from $328.00 to $337.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Wells Fargo & Company cut their target price on shares of FedEx from $320.00 to $275.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Truist Financial began coverage on shares of FedEx in a research note on Thursday. They set a "buy" rating and a $305.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $372.00 to $323.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Finally, Stifel Nicolaus reduced their price objective on FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $318.04.

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Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company's stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company's stock.

FedEx Stock Performance

FedEx stock traded down $2.77 during mid-day trading on Thursday, hitting $240.74. The company had a trading volume of 1,565,412 shares, compared to its average volume of 1,667,332. The company's fifty day moving average is $264.35 and its 200-day moving average is $275.13. FedEx Co. has a 12-month low of $239.50 and a 12-month high of $313.84. The company has a market capitalization of $57.98 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio (DPR) is currently 35.18%.

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.