FedEx Co. (NYSE:FDX) Shares Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the shipping service provider’s stock after buying an additional 546 shares during the period. Johnson Investment Counsel Inc.’s holdings in FedEx were worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI boosted its stake in FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after buying an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its stake in FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after buying an additional 39 shares during the last quarter. Harbour Investments Inc. boosted its stake in FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after buying an additional 40 shares during the last quarter. Cetera Trust Company N.A boosted its stake in FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after buying an additional 40 shares during the last quarter. Finally, Griffin Asset Management Inc. boosted its stake in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX opened at $242.92 on Wednesday. The business’s 50 day moving average is $265.10 and its two-hundred day moving average is $275.35. FedEx Co. has a 52-week low of $241.78 and a 52-week high of $313.84. The firm has a market cap of $58.51 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

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, beating analysts’ consensus estimates 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 analyst estimates of $22.14 billion. During the same period in the prior year, the company posted $3.99 EPS. FedEx’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FDX. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and decreased their price target for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America raised their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.58.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased 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 in the company, valued at approximately $91,927.98. This 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.

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.