Perigon Wealth Management LLC Reduces Position in FedEx Co. (NYSE:FDX)

Perigon Wealth Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,821 shares of the shipping service provider’s stock after selling 300 shares during the quarter. Perigon Wealth Management LLC’s holdings in FedEx were worth $1,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. grew its holdings in FedEx by 19.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 686 shares of the shipping service provider’s stock valued at $206,000 after buying an additional 112 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of FedEx by 23.8% in the second quarter. EP Wealth Advisors LLC now owns 3,829 shares of the shipping service provider’s stock valued at $1,148,000 after purchasing an additional 737 shares during the period. Clearbridge Investments LLC increased its position in FedEx by 63.9% during the second quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock worth $2,374,000 after purchasing an additional 3,087 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in FedEx during the second quarter worth about $10,018,000. Finally, Jacobs & Co. CA boosted its holdings in FedEx by 0.4% in the 3rd quarter. Jacobs & Co. CA now owns 45,989 shares of the shipping service provider’s stock valued at $12,586,000 after purchasing an additional 180 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on FDX shares. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and lifted their price target for the company from $288.00 to $365.00 in a research report on Friday, December 20th. BMO Capital Markets upped their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. UBS Group upped their target price 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. Finally, Stifel Nicolaus dropped their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.43.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

FedEx Stock Down 2.1 %

Shares of NYSE FDX opened at $269.39 on Friday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a market capitalization of $64.88 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. 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 business has a 50-day moving average of $280.84 and a two-hundred day moving average of $282.81.

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. The company had revenue of $22 billion for 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 last year, the company posted $3.99 earnings per share. On average, analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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