FedEx Co. (NYSE:FDX) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust increased its position in shares of FedEx Co. (NYSE:FDX) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 434 shares of the shipping service provider’s stock after acquiring an additional 50 shares during the quarter. Grove Bank & Trust’s holdings in FedEx were worth $122,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FDX. AE Wealth Management LLC boosted its holdings in shares of FedEx by 49.0% in the 2nd quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after purchasing an additional 948 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of FedEx by 6.2% in the 2nd quarter. ProShare Advisors LLC now owns 38,209 shares of the shipping service provider’s stock valued at $11,457,000 after purchasing an additional 2,230 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter valued at $1,369,000. Public Sector Pension Investment Board boosted its holdings in shares of FedEx by 1.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 307,136 shares of the shipping service provider’s stock valued at $92,092,000 after purchasing an additional 3,336 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in shares of FedEx by 2.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 39,476 shares of the shipping service provider’s stock valued at $11,891,000 after purchasing an additional 897 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.8 %

FedEx stock opened at $275.11 on Tuesday. The firm has a 50-day moving average price of $283.48 and a two-hundred day moving average price of $283.87. The firm has a market capitalization of $66.26 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.12 and a beta of 1.20. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly 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. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 EPS. Sell-side analysts expect that FedEx Co. will post 19.2 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling

In related news, 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 sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, 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. Insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FDX. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and lifted their price target for the company from $288.00 to $365.00 in a report on Friday, December 20th. TD Cowen raised their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company raised their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. BMO Capital Markets raised their target price on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus 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.