Family Legacy Inc. Raises Position in FedEx Co. (NYSE:FDX)

Family Legacy Inc. boosted its stake in FedEx Co. (NYSE:FDX) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,137 shares of the shipping service provider’s stock after acquiring an additional 321 shares during the period. Family Legacy Inc.’s holdings in FedEx were worth $588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its stake in FedEx by 144.4% in 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. bought a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. bought a new position in FedEx during the 4th quarter worth $28,000. Kentucky Trust Co bought a new stake in FedEx during the 4th quarter valued at $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on FDX shares. Stifel Nicolaus reduced their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Truist Financial began coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $302.71.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’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 transaction of $713,371.68. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock worth $3,312,693. Company insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.9 %

Shares of NYSE FDX opened at $241.75 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average of $256.59 and a 200-day moving average of $270.89. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The firm has a market capitalization of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.86 EPS. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s payout ratio is presently 34.63%.

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.