Reliant Investment Management LLC Boosts Holdings in FedEx Co. (NYSE:FDX)

Reliant Investment Management LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 912 shares of the shipping service provider’s stock after acquiring an additional 73 shares during the quarter. Reliant Investment Management LLC’s holdings in FedEx were worth $257,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. AE Wealth Management LLC boosted its holdings in FedEx by 49.0% in the second quarter. AE Wealth Management LLC now owns 2,881 shares of the shipping service provider’s stock valued at $864,000 after acquiring an additional 948 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of FedEx by 6.2% during the 2nd quarter. ProShare Advisors LLC now owns 38,209 shares of the shipping service provider’s stock valued at $11,457,000 after buying an additional 2,230 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in FedEx in the 2nd quarter worth about $1,369,000. Public Sector Pension Investment Board boosted its stake in FedEx by 1.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 307,136 shares of the shipping service provider’s stock worth $92,092,000 after purchasing an additional 3,336 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in FedEx by 2.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 39,476 shares of the shipping service provider’s stock worth $11,891,000 after purchasing an additional 897 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the 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. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FDX shares. JPMorgan Chase & Co. upped their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Barclays boosted their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus boosted their target price on FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, TD Cowen boosted their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $325.61.

FedEx Trading Down 0.8 %

FDX stock opened at $275.11 on Tuesday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $66.26 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.14 and a beta of 1.20. The business has a 50 day simple moving average of $283.48 and a two-hundred day simple moving average of $283.87.

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 the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the company posted $3.99 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts anticipate 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 was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s payout ratio is 35.18%.

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.