Corient Private Wealth LLC Buys 404 Shares of FedEx Co. (NYSE:FDX)

Corient Private Wealth LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 120,500 shares of the shipping service provider’s stock after acquiring an additional 404 shares during the quarter. Corient Private Wealth LLC’s holdings in FedEx were worth $33,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the 4th quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stephens dropped their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $318.04.

FedEx Stock Up 1.3 %

Shares of NYSE:FDX opened at $245.46 on Tuesday. FedEx Co. has a 1 year low of $239.50 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business’s 50-day moving average is $262.47 and its 200-day moving average is $273.86. The company has a market capitalization of $59.12 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping 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 business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the company posted $3.99 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was 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 directly owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx 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.