Meriwether Wealth & Planning LLC Takes $325,000 Position in FedEx Co. (NYSE:FDX)

Meriwether Wealth & Planning LLC bought a new stake in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,156 shares of the shipping service provider’s stock, valued at approximately $325,000.

Several other hedge funds have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC lifted its position 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 worth $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. acquired a new stake in FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new stake in FedEx in the 4th quarter valued at about $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 1.6 %

NYSE FDX opened at $253.80 on Monday. FedEx Co. has a 1-year low of $242.92 and a 1-year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $266.55 and a 200-day moving average of $276.07. The firm has a market cap of $61.13 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly 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 company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently declared 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 2.17%. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated 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 in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Bank of America lifted their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $318.58.

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.