United Bank Acquires 1,203 Shares of FedEx Co. (NYSE:FDX)

United Bank increased its position in shares of FedEx Co. (NYSE:FDX) by 53.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,450 shares of the shipping service provider’s stock after purchasing an additional 1,203 shares during the period. United Bank’s holdings in FedEx were worth $971,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Cetera Trust Company N.A increased its position in FedEx by 0.5% during the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its position in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares during the period. Aviso Financial Inc. lifted its stake in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares during the last quarter. Richard P Slaughter Associates Inc increased its position in shares of FedEx by 0.5% during the 4th quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock worth $2,281,000 after purchasing an additional 42 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its holdings in FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock valued at $473,000 after buying an additional 42 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FDX shares. Wells Fargo & Company cut their target price on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Bank of America lowered their target price on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Stifel Nicolaus decreased their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Trading Down 0.9 %

Shares of FDX stock opened at $241.75 on Friday. The stock has a market cap of $57.92 billion, a P/E ratio of 15.41, a P/E/G 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 Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The business has a fifty day simple moving average of $256.59 and a 200-day simple moving average of $270.98.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period last year, the company earned $3.86 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that FedEx Co. will post 19.14 earnings per share 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 issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Buying and Selling

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

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.