FedEx Co. (NYSE:FDX) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 17.8% in the fourth quarter, HoldingsChannel reports. The firm owned 19,333 shares of the shipping service provider’s stock after acquiring an additional 2,919 shares during the quarter. Procyon Advisors LLC’s holdings in FedEx were worth $5,439,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its stake in FedEx by 74.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 1,270 shares of the shipping service provider’s stock worth $381,000 after buying an additional 542 shares in the last quarter. Moors & Cabot Inc. grew its stake in FedEx by 16.8% during the 2nd quarter. Moors & Cabot Inc. now owns 2,575 shares of the shipping service provider’s stock valued at $772,000 after acquiring an additional 371 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in FedEx by 1.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,461 shares of the shipping service provider’s stock valued at $1,637,000 after acquiring an additional 89 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in FedEx by 4.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 74,596 shares of the shipping service provider’s stock worth $22,345,000 after purchasing an additional 3,370 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in FedEx by 5.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,004 shares of the shipping service provider’s stock worth $5,904,000 after purchasing an additional 952 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

FedEx stock opened at $277.23 on Friday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a fifty day moving average of $283.82 and a two-hundred day moving average of $284.25. The company has a market capitalization of $66.77 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.12 and a beta of 1.20. 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 (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.99 EPS. On average, analysts anticipate that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Analysts Set New Price Targets

A number of research firms recently commented on FDX. Robert W. Baird decreased their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Evercore ISI cut their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Wells Fargo & Company lifted their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $325.61.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value 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 position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

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.