United Bank Raises Stock Holdings in FedEx Co. (NYSE:FDX)

United Bank raised its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 53.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,450 shares of the shipping service provider's stock after acquiring an additional 1,203 shares during the quarter. United Bank's holdings in FedEx were worth $971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Cetera Trust Company N.A raised its holdings in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after acquiring an additional 40 shares during the period. Griffin Asset Management Inc. boosted its holdings in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares during the last quarter. Aviso Financial Inc. lifted its holdings in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after acquiring an additional 40 shares during the last quarter. Richard P Slaughter Associates Inc grew its position in FedEx by 0.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider's stock worth $2,281,000 after acquiring an additional 42 shares during the period. Finally, WealthPlan Investment Management LLC lifted its stake in shares of FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock valued at $473,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Remove Ads

FedEx Stock Performance

Shares of FedEx stock traded down $24.06 during trading hours on Thursday, hitting $221.11. 2,193,989 shares of the company were exchanged, compared to its average volume of 1,736,655. The business has a 50-day moving average of $254.79 and a 200-day moving average of $270.10. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $52.98 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.50%. FedEx's dividend payout ratio is presently 34.63%.

Insider Activity at FedEx

In other news, EVP John W. Dietrich purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company's stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,711 shares of company stock worth $3,312,693 over the last 90 days. Company insiders own 8.87% of the company's stock.

Analyst Ratings Changes

FDX has been the subject of several research analyst reports. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and lowered their target price for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Barclays lowered their price objective on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. UBS Group lowered their price target on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research report on Friday, March 21st. BMO Capital Markets cut their price objective on FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Finally, Cfra Research upgraded FedEx to a "hold" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $302.71.

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.