Secure Asset Management LLC Purchases 81 Shares of FedEx Co. (NYSE:FDX)

Secure Asset Management LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 913 shares of the shipping service provider’s stock after purchasing an additional 81 shares during the period. Secure Asset Management LLC’s holdings in FedEx were worth $257,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Red Door Wealth Management LLC grew its position in shares of FedEx by 0.9% in the 4th quarter. Red Door Wealth Management LLC now owns 32,838 shares of the shipping service provider’s stock worth $9,238,000 after buying an additional 303 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in FedEx by 1.0% in the fourth quarter. Westside Investment Management Inc. now owns 4,908 shares of the shipping service provider’s stock valued at $1,381,000 after acquiring an additional 49 shares in the last quarter. Cetera Trust Company N.A boosted its holdings in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares in the last quarter. MBM Wealth Consultants LLC increased its position in FedEx by 3.0% during the 4th quarter. MBM Wealth Consultants LLC now owns 4,817 shares of the shipping service provider’s stock valued at $1,321,000 after purchasing an additional 142 shares during the period. Finally, Missouri Trust & Investment Co lifted its position in shares of FedEx by 3.8% in the 4th quarter. Missouri Trust & Investment Co now owns 5,258 shares of the shipping service provider’s stock worth $1,479,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.1 %

FDX opened at $273.12 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average price of $281.64 and a 200-day moving average price of $283.27. The stock has a market capitalization of $65.78 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.12 and a beta of 1.20.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Stifel Nicolaus decreased their price target on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday. Barclays raised their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. TD Cowen upped their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Raymond James raised their price objective on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and upped their target price for the stock from $288.00 to $365.00 in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.43.

Insider Activity at FedEx

In related news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following 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 disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

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.