Oliver Luxxe Assets LLC Grows Stock Position in FedEx Co. (NYSE:FDX)

Oliver Luxxe Assets LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,617 shares of the shipping service provider’s stock after acquiring an additional 378 shares during the period. Oliver Luxxe Assets LLC’s holdings in FedEx were worth $4,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of FedEx in the third quarter valued at approximately $31,000. Abound Wealth Management grew its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC raised its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the 3rd quarter worth $47,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, Director Amy B. Lane purchased 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research reports. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Stifel Nicolaus lifted their price objective on shares of FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, TD Cowen raised their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.88.

FedEx Price Performance

Shares of NYSE:FDX traded down $0.61 during trading on Monday, reaching $273.80. 1,060,158 shares of the company’s stock traded hands, compared to its average volume of 1,146,942. The firm has a market cap of $65.95 billion, a PE ratio of 16.89, a P/E/G ratio of 1.17 and a beta of 1.20. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $283.87 and a 200-day simple moving average of $284.23.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $3.99 EPS. As a group, analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 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.