FedEx Co. (NYSE:FDX) Shares Acquired by Mengis Capital Management Inc.

Mengis Capital Management Inc. lifted its position in shares of FedEx Co. (NYSE:FDX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,297 shares of the shipping service provider’s stock after purchasing an additional 220 shares during the period. Mengis Capital Management Inc.’s holdings in FedEx were worth $2,897,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FDX. IVC Wealth Advisors LLC raised its position in FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after buying an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after acquiring an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its position in shares of FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares during the last quarter. Evermay Wealth Management LLC raised its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FDX shares. Loop Capital cut FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $365.00 to $283.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. 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 report on Friday, December 20th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Price Performance

FDX stock opened at $252.94 on Tuesday. FedEx Co. has a one year low of $239.07 and a one year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $60.92 billion, a PE ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18. The firm has a 50-day moving average of $270.14 and a two-hundred day moving average of $277.95.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction on 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. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction 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 acquisition, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

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.