Ashton Thomas Private Wealth LLC Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Ashton Thomas Private Wealth LLC decreased its position in FedEx Co. (NYSE:FDX) by 36.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,671 shares of the shipping service provider’s stock after selling 4,374 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in FedEx were worth $2,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Callan Family Office LLC increased its position in shares of FedEx by 294.1% in the fourth quarter. Callan Family Office LLC now owns 12,031 shares of the shipping service provider’s stock valued at $3,385,000 after acquiring an additional 8,978 shares during the period. Candriam S.C.A. increased its position in shares of FedEx by 3.5% in the fourth quarter. Candriam S.C.A. now owns 21,033 shares of the shipping service provider’s stock valued at $5,917,000 after acquiring an additional 709 shares during the period. Pinnacle Wealth Planning Services Inc. increased its position in shares of FedEx by 34.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,107 shares of the shipping service provider’s stock valued at $311,000 after acquiring an additional 281 shares during the period. Raymond James Financial Inc. purchased a new position in shares of FedEx in the fourth quarter valued at about $234,028,000. Finally, Vision Financial Markets LLC purchased a new position in shares of FedEx in the fourth quarter valued at about $70,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents 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 owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FDX shares. Bank of America boosted their price target on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Stifel Nicolaus reduced their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Stephens reduced 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. Finally, Citigroup boosted their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.58.

FedEx Trading Up 1.6 %

Shares of NYSE FDX opened at $253.80 on Friday. The firm’s 50 day moving average price is $266.55 and its 200-day moving average price is $276.18. The company has a market cap of $61.13 billion, a PE ratio of 16.18, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52-week low of $242.92 and a 52-week high of $313.84. 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 (NYSE:FDX) last issued its earnings results 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 firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.99 earnings per share. On average, equities research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s dividend payout ratio (DPR) 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.