Mission Wealth Management LP Has $1.16 Million Stock Position in FedEx Co. (NYSE:FDX)

Mission Wealth Management LP lessened its stake in FedEx Co. (NYSE:FDX) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,117 shares of the shipping service provider’s stock after selling 278 shares during the quarter. Mission Wealth Management LP’s holdings in FedEx were worth $1,158,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its stake in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the fourth quarter valued at about $28,000. City Holding Co. acquired a new position in shares of FedEx during the fourth quarter worth about $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management acquired a new stake in FedEx in the 4th quarter valued at approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. Wells Fargo & Company upped their price target on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stephens decreased their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $319.74.

FedEx Stock Performance

NYSE FDX opened at $258.62 on Tuesday. The stock has a market cap of $62.29 billion, a PE ratio of 16.48, a P/E/G ratio of 1.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50-day moving average of $268.58 and a 200-day moving average of $277.14. FedEx Co. has a 52-week low of $242.92 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.13%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % 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 hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

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.