GM Advisory Group LLC Increases Position in FedEx Co. (NYSE:FDX)

GM Advisory Group LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,136 shares of the shipping service provider’s stock after purchasing an additional 210 shares during the quarter. GM Advisory Group LLC’s holdings in FedEx were worth $320,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. purchased a new position in FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX stock opened at $247.46 on Thursday. 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 firm has a market cap of $59.60 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 1.23. The firm’s 50 day moving average price is $261.33 and its 200-day moving average price is $273.30. FedEx Co. has a one year low of $239.50 and a one year high of $313.84.

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 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 analysts’ expectations of $22.14 billion. During the same period in the prior year, the firm earned $3.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction 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 in the company, valued at approximately $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. 8.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FDX has been the topic of several research analyst reports. Truist Financial began coverage on FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective on the stock. UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Piper Sandler downgraded FedEx to a “neutral” rating in a research note on Monday, February 3rd. TD Cowen lifted their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $317.48.

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.