RWA Wealth Partners LLC Acquires 25,817 Shares of FedEx Co. (NYSE:FDX)

RWA Wealth Partners LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 46.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,033 shares of the shipping service provider’s stock after buying an additional 25,817 shares during the period. RWA Wealth Partners LLC’s holdings in FedEx were worth $22,797,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. United Bank bought a new position in shares of FedEx during the 3rd quarter worth about $615,000. Townsquare Capital LLC increased its stake in FedEx by 19.5% during the third quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock valued at $483,000 after acquiring an additional 288 shares during the period. Bridgewater Associates LP lifted its position in shares of FedEx by 38.8% in the 3rd quarter. Bridgewater Associates LP now owns 25,022 shares of the shipping service provider’s stock worth $6,848,000 after acquiring an additional 6,994 shares during the period. Fiduciary Trust Co grew its holdings in shares of FedEx by 45.6% during the 3rd quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider’s stock worth $902,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of FedEx by 117.0% during the third quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider’s stock valued at $21,343,000 after purchasing an additional 42,034 shares during the period. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FDX. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Citigroup lowered their target price on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Stephens cut their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Bank of America cut their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Trading Down 0.9 %

NYSE FDX opened at $241.75 on Friday. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The stock has a 50-day simple moving average of $256.59 and a 200 day simple moving average of $270.98. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $57.92 billion, a PE ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by company insiders.

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.