FedEx Co. (NYSE:FDX) Shares Purchased by Edge Wealth Management LLC

Edge Wealth Management LLC raised its holdings in FedEx Co. (NYSE:FDX) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,431 shares of the shipping service provider’s stock after purchasing an additional 44 shares during the period. Edge Wealth Management LLC’s holdings in FedEx were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. IVC Wealth Advisors LLC boosted its position in FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in shares of 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 boosted its holdings 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 during the period. Buckley Wealth Management LLC increased its stake in FedEx by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after buying an additional 40 shares during the period. Finally, Evermay Wealth Management LLC lifted its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Bernstein Bank boosted their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird cut their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. TD Cowen lifted their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $325.61.

FedEx Stock Performance

NYSE FDX opened at $277.23 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $66.77 billion, a P/E ratio of 17.67, a PEG ratio of 1.12 and a beta of 1.20. The company’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 data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the business earned $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.2 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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