BankPlus Trust Department Buys New Shares in FedEx Co. (NYSE:FDX)

BankPlus Trust Department bought a new stake in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,088 shares of the shipping service provider’s stock, valued at approximately $306,000.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the period. Evermay Wealth Management LLC lifted 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 period. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the 4th quarter valued at $28,000. City Holding Co. acquired a new position in shares of FedEx during the 4th quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new position in shares of FedEx during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FDX shares. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. Stephens lowered their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Barclays upped their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

FedEx Stock Performance

Shares of FDX stock opened at $252.94 on Tuesday. FedEx Co. has a 12 month low of $239.07 and a 12 month high of $313.84. The stock has a market cap of $60.92 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company’s fifty day moving average price is $270.14 and its 200-day moving average price is $277.95.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.99 EPS. On average, equities analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insiders Place Their Bets

In other 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 cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now 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 insiders.

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.