1,096 Shares in FedEx Co. (NYSE:FDX) Acquired by SVB Wealth LLC

SVB Wealth LLC bought a new stake in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,096 shares of the shipping service provider’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in 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. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter valued at $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter worth $28,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the fourth quarter worth $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In other FedEx news, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 owns 111,886 shares of the company’s stock, valued at approximately $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. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Barclays upped their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stifel Nicolaus decreased their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and decreased their price target for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.74.

FedEx Stock Performance

Shares of FDX opened at $250.64 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a one year low of $242.92 and a one year high of $313.84. The company has a 50-day simple moving average of $267.66 and a two-hundred day simple moving average of $276.69. The firm has a market capitalization of $60.37 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the business earned $3.99 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.20%. 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.