Meeder Advisory Services Inc. Raises Stake in FedEx Co. (NYSE:FDX)

Meeder Advisory Services Inc. increased its stake in FedEx Co. (NYSE:FDX) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,446 shares of the shipping service provider’s stock after buying an additional 129 shares during the period. Meeder Advisory Services Inc.’s holdings in FedEx were worth $1,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake 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 valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter valued at $28,000. City Holding Co. purchased a new stake in shares of FedEx in the 4th quarter worth $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter worth $28,000. Finally, Activest Wealth Management purchased a new position in shares of FedEx during the fourth quarter valued at $29,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. TD Cowen lowered their target price on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Raymond James cut their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

Insider Transactions at FedEx

In related news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock valued at $3,312,693 in the last ninety days. 8.87% of the stock is currently owned by corporate insiders.

FedEx Trading Up 1.4 %

NYSE FDX opened at $245.45 on Thursday. The company has a fifty day moving average of $254.79 and a 200 day moving average of $270.10. The company has a market capitalization of $58.81 billion, a PE ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23. 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 1 year low of $217.22 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the company earned $3.86 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.25%. FedEx’s payout ratio is 34.63%.

FedEx 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.