Runnymede Capital Advisors Inc. Acquires Shares of 113 FedEx Co. (NYSE:FDX)

Runnymede Capital Advisors Inc. acquired a new stake in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 113 shares of the shipping service provider’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently made changes to their positions in FDX. United Bank bought a new stake in shares of FedEx in the 3rd quarter worth approximately $615,000. Quest Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth approximately $123,000. Citizens Financial Group Inc. RI boosted its position in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of FedEx by 6.0% in the 3rd quarter. Raymond James Trust N.A. now owns 11,823 shares of the shipping service provider’s stock worth $3,236,000 after purchasing an additional 667 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FDX shares. Stephens decreased their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Truist Financial started coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday. Finally, Sanford C. Bernstein lowered shares of 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $301.67.

FedEx Trading Down 6.5 %

Shares of FDX stock opened at $230.25 on Friday. FedEx Co. has a 52-week low of $217.22 and a 52-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. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The stock has a fifty day simple moving average of $259.95 and a two-hundred day simple moving average of $272.49.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.40%. FedEx’s payout ratio is presently 35.18%.

Insiders Place Their Bets

In other news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

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.