Essex Savings Bank Lowers Holdings in FedEx Co. (NYSE:FDX)

Essex Savings Bank lowered its holdings in FedEx Co. (NYSE:FDX) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,278 shares of the shipping service provider’s stock after selling 186 shares during the quarter. Essex Savings Bank’s holdings in FedEx were worth $360,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC raised its holdings 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 buying an additional 52 shares during the period. Evermay Wealth Management LLC raised its stake in shares of 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 period. Peoples Financial Services CORP. acquired a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the 3rd quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC increased its holdings in FedEx by 177.5% in the 4th quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

FedEx Price Performance

Shares of FDX opened at $277.23 on Friday. The firm has a fifty day moving average price of $283.82 and a 200 day moving average price of $284.25. The stock has a market cap of $66.77 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. FedEx Co. has a 1-year low of $234.45 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.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.99 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.2 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.99%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Analyst Ratings Changes

A number of research firms have commented on FDX. Stephens decreased their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Loop Capital upgraded FedEx from a “hold” rating to a “buy” rating and raised their target price for the company from $288.00 to $365.00 in a report on Friday, December 20th. Citigroup boosted their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $325.61.

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.