Bar Harbor Wealth Management Raises Holdings in FedEx Co. (NYSE:FDX)

Bar Harbor Wealth Management lifted its holdings in FedEx Co. (NYSE:FDX) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 15,573 shares of the shipping service provider’s stock after acquiring an additional 181 shares during the period. Bar Harbor Wealth Management’s holdings in FedEx were worth $4,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortitude Family Office LLC raised its holdings 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 purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter valued at $31,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in FedEx during the third quarter valued at $47,000. 84.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Raymond James increased their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Barclays upped their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Friday, September 20th. Finally, Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.61.

FedEx Trading Up 1.4 %

Shares of FDX stock traded up $3.73 on Monday, reaching $274.46. 1,081,893 shares of the company’s stock were exchanged, compared to its average volume of 1,433,929. The company’s fifty day simple moving average is $283.78 and its 200 day simple moving average is $284.61. The stock has a market capitalization of $66.10 billion, a PE ratio of 16.93, a P/E/G ratio of 1.18 and a beta of 1.20. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 net margin of 4.62% and a return on equity of 15.61%. During the same period in the previous year, the firm earned $3.99 earnings per share. The business’s revenue was down .7% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Buying and Selling

In other news, CEO Richard W. Smith sold 2,576 shares of the company’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 sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, 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 owned by 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.