Allworth Financial LP Buys 3,844 Shares of FedEx Co. (NYSE:FDX)

Allworth Financial LP increased its stake in shares of FedEx Co. (NYSE:FDX) by 69.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,383 shares of the shipping service provider’s stock after purchasing an additional 3,844 shares during the quarter. Allworth Financial LP’s holdings in FedEx were worth $2,537,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC grew its position in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new position in FedEx in the 4th quarter valued at $28,000. City Holding Co. bought a new position in FedEx in the 4th quarter valued at $28,000. Finally, Kentucky Trust Co bought a new position in FedEx in the 4th quarter valued at $28,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FDX shares. JPMorgan Chase & Co. upped their price objective on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Barclays increased their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. Finally, Raymond James increased their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have given 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, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Activity

In related 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 transaction of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents 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 Trading Up 1.8 %

FedEx stock opened at $267.83 on Tuesday. The stock has a 50-day moving average of $272.40 and a two-hundred day moving average of $278.92. 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 one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $64.51 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $3.99 earnings per share. On average, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

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.