Golden State Wealth Management LLC Purchases New Position in FedEx Co. (NYSE:FDX)

Golden State Wealth Management LLC acquired a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 299 shares of the shipping service provider’s stock, valued at approximately $84,000.

Several other large investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of FedEx by 6.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,783 shares of the shipping service provider’s stock valued at $8,098,000 after purchasing an additional 1,747 shares during the period. Strategic Financial Concepts LLC purchased a new position in FedEx during the fourth quarter valued at $13,103,000. Telos Capital Management Inc. boosted its holdings in shares of FedEx by 4.2% during the 4th quarter. Telos Capital Management Inc. now owns 19,768 shares of the shipping service provider’s stock valued at $5,561,000 after buying an additional 803 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of FedEx by 1.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 29,561 shares of the shipping service provider’s stock worth $8,316,000 after buying an additional 286 shares during the period. Finally, Financial Advocates Investment Management increased its stake in shares of FedEx by 42.9% in the 4th quarter. Financial Advocates Investment Management now owns 1,831 shares of the shipping service provider’s stock worth $515,000 after acquiring an additional 550 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Down 1.1 %

FDX stock opened at $256.01 on Monday. The business’s 50-day moving average is $274.59 and its two-hundred day moving average is $280.36. The company has a market cap of $61.66 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 1.07 and a beta of 1.18. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. 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 (NYSE:FDX) last posted 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. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the business posted $3.99 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 19.14 earnings per share 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 paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FDX shares. BMO Capital Markets upped their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Loop Capital cut FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Company 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.