Cvfg LLC Takes $482,000 Position in FedEx Co. (NYSE:FDX)

Cvfg LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,714 shares of the shipping service provider’s stock, valued at approximately $482,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IVC Wealth Advisors LLC raised its holdings in shares of FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after buying an additional 38 shares during the period. Citizens Financial Group Inc. RI increased its stake in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC lifted its position in shares of FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares in the last quarter. Buckley Wealth Management LLC boosted its stake in shares of FedEx by 1.0% in the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after purchasing an additional 40 shares during the period. Finally, Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FDX shares. BMO Capital Markets increased their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Bank of America lifted their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $325.61.

FedEx Stock Up 0.2 %

FDX opened at $277.23 on Friday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $66.77 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The business’s 50-day simple moving average is $283.82 and its 200-day simple moving average is $284.25.

FedEx (NYSE:FDX) last released its quarterly 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. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 earnings per share. Analysts anticipate that FedEx Co. will post 19.2 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % 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 company 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.