Providence First Trust Co Makes New Investment in FedEx Co. (NYSE:FDX)

Providence First Trust Co bought a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 233 shares of the shipping service provider’s stock, valued at approximately $66,000.

Other hedge funds also recently bought and sold shares of the company. US Bancorp DE increased its holdings in shares of FedEx by 1.1% during the 4th quarter. US Bancorp DE now owns 116,918 shares of the shipping service provider’s stock valued at $32,893,000 after acquiring an additional 1,284 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of FedEx by 23.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,172 shares of the shipping service provider’s stock valued at $330,000 after acquiring an additional 219 shares during the last quarter. Sage Investment Counsel LLC acquired a new position in shares of FedEx during the 4th quarter valued at about $436,000. SVB Wealth LLC acquired a new position in shares of FedEx during the 4th quarter valued at about $308,000. Finally, Pettyjohn Wood & White Inc. increased its holdings in shares of FedEx by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 23,856 shares of the shipping service provider’s stock valued at $6,711,000 after acquiring an additional 128 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. Stephens lowered their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Citigroup increased their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets increased their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Barclays increased their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $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. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $263.11 on Friday. 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 company has a market capitalization of $63.37 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. FedEx Co. has a one year low of $242.92 and a one year high of $313.84. The business has a 50 day simple moving average of $268.78 and a 200 day simple moving average of $277.36.

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

FedEx Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.10%. FedEx’s dividend payout ratio is 35.18%.

About FedEx

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.