WESCAP Management Group Inc. Boosts Holdings in FedEx Co. (NYSE:FDX)

WESCAP Management Group Inc. raised its stake in shares of FedEx Co. (NYSE:FDX) by 29.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,192 shares of the shipping service provider’s stock after buying an additional 500 shares during the quarter. WESCAP Management Group Inc.’s holdings in FedEx were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx in the 4th quarter worth approximately $28,000. City Holding Co. purchased a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new position in shares of FedEx in the fourth quarter valued at $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 12,711 shares of company stock worth $3,312,693 over the last quarter. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Bank of America reduced their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company lowered their price objective on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.71.

FedEx Stock Down 0.8 %

NYSE:FDX opened at $241.86 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84. The company has a 50-day moving average of $255.30 and a 200 day moving average of $270.28. The firm has a market cap of $57.95 billion, a PE ratio of 15.41, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.86 EPS. As a group, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

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

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.