Beach Investment Counsel Inc. PA Has $1.66 Million Holdings in FedEx Co. (NYSE:FDX)

Beach Investment Counsel Inc. PA trimmed its position in shares of FedEx Co. (NYSE:FDX) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,909 shares of the shipping service provider’s stock after selling 959 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in FedEx were worth $1,662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in FedEx in the 3rd quarter valued at $3,405,000. Czech National Bank grew its stake in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares during the period. Wedmont Private Capital grew its stake in FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after purchasing an additional 91 shares during the period. Persium Advisors LLC bought a new position in FedEx in the 4th quarter valued at $530,000. Finally, GFS Advisors LLC bought a new position in shares of FedEx during the 4th quarter worth $26,855,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 0.4 %

FedEx stock opened at $248.43 on Tuesday. The company has a market capitalization of $59.83 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.10 and a beta of 1.18. FedEx Co. has a 1-year low of $234.45 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 firm’s fifty day simple moving average is $279.62 and its 200-day simple moving average is $282.02.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is presently 35.18%.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several research reports. UBS Group increased their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Stephens cut their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, TD Cowen upped their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $321.87.

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.