Red Door Wealth Management LLC Buys 303 Shares of FedEx Co. (NYSE:FDX)

Red Door Wealth Management LLC raised its position in FedEx Co. (NYSE:FDX) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 32,838 shares of the shipping service provider’s stock after buying an additional 303 shares during the period. FedEx comprises approximately 1.4% of Red Door Wealth Management LLC’s holdings, making the stock its 18th largest holding. Red Door Wealth Management LLC’s holdings in FedEx were worth $9,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Westside Investment Management Inc. raised its holdings in FedEx by 1.0% during the 4th quarter. Westside Investment Management Inc. now owns 4,908 shares of the shipping service provider’s stock worth $1,381,000 after purchasing an additional 49 shares during the last quarter. Cetera Trust Company N.A raised its stake in shares of FedEx by 0.5% during the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after buying an additional 40 shares during the last quarter. MBM Wealth Consultants LLC raised its stake in shares of FedEx by 3.0% during the fourth quarter. MBM Wealth Consultants LLC now owns 4,817 shares of the shipping service provider’s stock worth $1,321,000 after buying an additional 142 shares during the last quarter. Missouri Trust & Investment Co lifted its holdings in FedEx by 3.8% in the fourth quarter. Missouri Trust & Investment Co now owns 5,258 shares of the shipping service provider’s stock valued at $1,479,000 after buying an additional 193 shares during the period. Finally, Davis Capital Management boosted its stake in FedEx by 2.0% in the fourth quarter. Davis Capital Management now owns 3,203 shares of the shipping service provider’s stock valued at $901,000 after acquiring an additional 63 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Barclays increased their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s 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 sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Trading Down 0.3 %

Shares of NYSE:FDX opened at $269.75 on Friday. 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 company has a market capitalization of $64.97 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a 50-day simple moving average of $282.52 and a 200 day simple moving average of $283.52.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.05%. FedEx’s payout ratio is 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.