Procyon Advisors LLC Buys 2,919 Shares of FedEx Co. (NYSE:FDX)

Procyon Advisors LLC boosted its position in FedEx Co. (NYSE:FDX - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,333 shares of the shipping service provider's stock after acquiring an additional 2,919 shares during the period. Procyon Advisors LLC's holdings in FedEx were worth $5,439,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in FedEx during the third quarter worth about $3,405,000. Czech National Bank boosted its holdings in FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock worth $12,564,000 after buying an additional 2,767 shares during the last quarter. Wedmont Private Capital boosted its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock worth $631,000 after buying an additional 91 shares during the last quarter. Persium Advisors LLC bought a new position in FedEx during the fourth quarter worth about $530,000. Finally, Magnolia Capital Advisors LLC bought a new position in FedEx during the second quarter worth about $9,226,000. Institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FDX. Susquehanna cut their price objective on FedEx from $345.00 to $330.00 and set a "positive" rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group cut their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. UBS Group lifted their price objective on FedEx from $311.00 to $350.00 and gave the company a "buy" rating in a report on Friday, December 20th. Bernstein Bank lifted their price objective on FedEx from $305.00 to $337.00 and gave the company an "overweight" rating in a report on Friday, September 20th. Finally, Evercore ISI dropped their target price on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $325.61.

FedEx Stock Performance

Shares of NYSE FDX traded down $2.26 during midday trading on Friday, hitting $275.11. 1,577,342 shares of the company's stock were exchanged, compared to its average volume of 1,510,815. 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 Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company's 50 day moving average price is $283.70 and its 200 day moving average price is $284.20. The firm has a market capitalization of $66.26 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the company posted $3.99 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 19.2 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business's stock in a transaction 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 $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on 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 in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

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.