RWA Wealth Partners LLC Acquires 25,817 Shares of FedEx Co. (NYSE:FDX)

RWA Wealth Partners LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 46.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,033 shares of the shipping service provider’s stock after buying an additional 25,817 shares during the quarter. RWA Wealth Partners LLC’s holdings in FedEx were worth $22,797,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. bLong Financial LLC acquired a new position in FedEx during the fourth quarter valued at approximately $391,000. Virtu Financial LLC acquired a new stake in shares of FedEx in the 3rd quarter valued at approximately $3,405,000. Lodestone Wealth Management LLC bought a new position in shares of FedEx in the fourth quarter valued at $461,000. Wedmont Private Capital increased its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC bought a new stake in FedEx during the fourth quarter worth $26,855,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FDX. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus cut their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Citigroup decreased their target price on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Truist Financial started coverage on FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $302.71.

FedEx Trading Down 0.9 %

Shares of FDX opened at $241.75 on Friday. 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 Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The firm has a market cap of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. The business’s fifty day moving average is $256.59 and its 200-day moving average is $270.98.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 earnings per share. Equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

Insider Activity at FedEx

In other news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock valued at $3,312,693 in the last 90 days. 8.87% of the stock is owned by corporate insiders.

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.