Millstone Evans Group LLC Takes Position in FedEx Co. (NYSE:FDX)

Millstone Evans Group LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 436 shares of the shipping service provider’s stock, valued at approximately $123,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings 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 worth $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the 4th quarter worth about $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter worth about $28,000. Kentucky Trust Co bought a new stake in shares of FedEx during the 4th quarter worth about $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx during the 4th quarter worth about $29,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $230.25 on Friday. The company has a 50 day simple moving average of $259.95 and a 200 day simple moving average of $272.49. The stock has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. 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 (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.86 earnings per share. Research 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. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s 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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of several research analyst reports. Stephens reduced their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday. Barclays dropped their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, TD Cowen dropped their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $301.67.

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.