FedEx Co. (NYSE:FDX) Stock Holdings Lifted by Forza Wealth Management LLC

Forza Wealth Management LLC raised its stake in FedEx Co. (NYSE:FDX) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,693 shares of the shipping service provider’s stock after acquiring an additional 48 shares during the period. Forza Wealth Management LLC’s holdings in FedEx were worth $758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in 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 purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC grew its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx during the 3rd quarter worth approximately $31,000. Abound Wealth Management grew its position in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx during the 3rd quarter worth approximately $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the topic of several research analyst reports. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stephens lowered their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. BMO Capital Markets boosted their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Bank of America upped their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $325.61.

Insiders Place Their Bets

In other news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, 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. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock traded up $4.29 during midday trading on Monday, reaching $275.02. The company had a trading volume of 851,356 shares, compared to its average volume of 1,412,401. The stock has a fifty day simple moving average of $283.78 and a 200 day simple moving average of $284.61. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a market capitalization of $66.24 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the business earned $3.99 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

About FedEx

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.