Forza Wealth Management LLC Raises Holdings in FedEx Co. (NYSE:FDX)

Forza Wealth Management LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,693 shares of the shipping service provider’s stock after buying an additional 48 shares during the period. Forza Wealth Management LLC’s holdings in FedEx were worth $758,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC increased its stake 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 purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC increased its stake 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 purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the 3rd quarter valued at approximately $31,000. Abound Wealth Management increased its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx in the 3rd quarter valued at approximately $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup increased their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Evercore ISI decreased their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $325.61.

Insider Transactions at FedEx

In related news, 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX traded up $4.29 during midday trading on Monday, hitting $275.02. 851,356 shares of the company’s stock were exchanged, compared to its average volume of 1,412,401. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s 50 day moving average price is $283.78 and its 200-day moving average price is $284.61. The firm has a market cap of $66.24 billion, a P/E ratio of 16.97, a PEG ratio of 1.18 and a beta of 1.20. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 earnings per share. Equities research analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. 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.