Confluence Wealth Services Inc. Has $736,000 Stake in FedEx Co. (NYSE:FDX)

Confluence Wealth Services Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,727 shares of the shipping service provider’s stock after buying an additional 213 shares during the period. Confluence Wealth Services Inc.’s holdings in FedEx were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. boosted its holdings in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after acquiring an additional 13,093 shares during the last quarter. Finally, Sentry LLC raised its position in shares of FedEx by 0.4% in the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after acquiring an additional 5,404 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated 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 in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Performance

FDX opened at $252.62 on Thursday. 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 business’s 50-day simple moving average is $277.43 and its 200 day simple moving average is $281.22. The firm has a market capitalization of $60.84 billion, a PE ratio of 16.10, a PEG ratio of 1.10 and a beta of 1.18. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a $1.38 dividend. 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 2.19%. FedEx’s payout ratio is 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company boosted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Barclays lifted their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Citigroup lifted their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.87.

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.