FourThought Financial Partners LLC Invests $1.14 Million in FedEx Co. (NYSE:FDX)

FourThought Financial Partners LLC acquired a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,053 shares of the shipping service provider’s stock, valued at approximately $1,140,000.

Several other hedge funds have also bought and sold shares of FDX. Geode Capital Management LLC lifted its holdings in FedEx by 1.5% in the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after acquiring an additional 67,502 shares during the period. Franklin Resources Inc. grew its position in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the period. Finally, Sentry LLC boosted its holdings in FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after acquiring an additional 5,404 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $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.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FDX shares. JPMorgan Chase & Co. lifted their target price on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Piper Sandler downgraded FedEx to a “neutral” rating in a research report on Monday, February 3rd. Raymond James lowered shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Finally, UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average 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. The stock has a market capitalization of $60.92 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.11 and a beta of 1.18. The company’s 50-day simple moving average is $270.14 and its 200-day simple moving average is $277.95. 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 Co. has a one year low of $239.07 and a one year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.18%. FedEx’s payout ratio is presently 35.18%.

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.