Moran Wealth Management LLC Sells 355 Shares of FedEx Co. (NYSE:FDX)

Moran Wealth Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,717 shares of the shipping service provider’s stock after selling 355 shares during the quarter. Moran Wealth Management LLC’s holdings in FedEx were worth $15,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other news, 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 completion of the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Trading Up 1.6 %

FedEx stock opened at $253.80 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. FedEx Co. has a 12-month low of $242.92 and a 12-month high of $313.84. The firm has a market capitalization of $61.13 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 1.11 and a beta of 1.23. The firm has a 50 day moving average of $266.55 and a 200 day moving average of $276.07.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.99 earnings per share. As a group, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. Wells Fargo & Company lowered their price target on FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup upped their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group raised their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets boosted their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.58.

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.