Procyon Advisors LLC Buys 2,919 Shares of FedEx Co. (NYSE:FDX)

Procyon Advisors LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,333 shares of the shipping service provider’s stock after purchasing an additional 2,919 shares during the quarter. Procyon Advisors LLC’s holdings in FedEx were worth $5,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC increased its stake in FedEx by 144.4% in the fourth 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 boosted its position in FedEx by 72.7% during the 3rd 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. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter worth about $28,000. FNY Investment Advisers LLC boosted its position in FedEx by 177.5% during the fourth 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. Finally, Highline Wealth Partners LLC bought a new position in FedEx in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John W. Dietrich acquired 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, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated 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 owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Trading Up 0.2 %

NYSE:FDX opened at $277.23 on Friday. The company has a 50 day simple moving average of $283.82 and a two-hundred day simple moving average of $284.25. The company 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. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

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

FedEx Dividend Announcement

The company 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 was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.99%. FedEx’s payout ratio is 35.18%.

Analysts Set New Price Targets

A number of research analysts have commented on FDX shares. Bank of America upped their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group decreased their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. UBS Group raised their price target on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $325.61.

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.