Portfolio Design Labs LLC Grows Position in FedEx Co. (NYSE:FDX)

Portfolio Design Labs LLC raised its holdings in shares of FedEx Co. (NYSE:FDX) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,347 shares of the shipping service provider’s stock after buying an additional 2,108 shares during the quarter. Portfolio Design Labs LLC’s holdings in FedEx were worth $2,630,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC grew 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 worth $25,000 after buying an additional 52 shares in the last quarter. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter valued at about $28,000. City Holding Co. acquired a new position in shares of FedEx during the 4th quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new position in shares of FedEx during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and lowered their price target for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Stephens lowered their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. TD Cowen boosted their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were 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 owns 8,904 shares in the company, valued at $2,461,510.80. This 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 Stock Up 1.2 %

FDX stock opened at $261.30 on Wednesday. The company’s 50 day moving average price is $273.81 and its 200 day moving average price is $279.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a market capitalization of $62.93 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last released its earnings results 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. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the firm earned $3.99 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.11%. FedEx’s payout ratio is 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.