Solidarity Wealth LLC Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Solidarity Wealth LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 11.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 18,627 shares of the shipping service provider’s stock after selling 2,496 shares during the period. FedEx comprises 1.4% of Solidarity Wealth LLC’s holdings, making the stock its 25th largest holding. Solidarity Wealth LLC’s holdings in FedEx were worth $5,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC grew its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew 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 worth $26,000 after buying an additional 40 shares during the last quarter. Peoples Financial Services CORP. purchased a new position in FedEx during the 4th quarter worth $28,000. City Holding Co. purchased a new position in FedEx during the 4th quarter worth $28,000. Finally, Highline Wealth Partners LLC acquired a new stake in FedEx during the 3rd quarter worth about $31,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on FDX shares. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. TD Cowen boosted their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stephens decreased their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company boosted their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.61.

Insider Activity

In related news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, 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. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $275.11 on Tuesday. The firm has a 50 day simple moving average of $283.48 and a 200-day simple moving average of $283.87. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market cap of $66.26 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the prior year, the company posted $3.99 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders 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 dividend yield of 2.01%. FedEx’s dividend payout ratio (DPR) is 35.18%.

FedEx 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.