Avion Wealth Raises Holdings in FedEx Co. (NYSE:FDX)

Avion Wealth increased its holdings in FedEx Co. (NYSE:FDX) by 424.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 131 shares of the shipping service provider’s stock after acquiring an additional 106 shares during the period. Avion Wealth’s holdings in FedEx were worth $36,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FDX. CWM LLC boosted its position in shares of FedEx by 13.1% during the third quarter. CWM LLC now owns 8,562 shares of the shipping service provider’s stock worth $2,343,000 after buying an additional 991 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of FedEx during the third quarter worth $97,000. Redhawk Wealth Advisors Inc. boosted its position in shares of FedEx by 6.4% during the third quarter. Redhawk Wealth Advisors Inc. now owns 2,528 shares of the shipping service provider’s stock worth $692,000 after buying an additional 153 shares during the period. Fiduciary Alliance LLC boosted its position in shares of FedEx by 47.2% during the third quarter. Fiduciary Alliance LLC now owns 1,195 shares of the shipping service provider’s stock worth $327,000 after buying an additional 383 shares during the period. Finally, Grove Bank & Trust boosted its position in shares of FedEx by 13.6% during the third quarter. Grove Bank & Trust now owns 384 shares of the shipping service provider’s stock worth $105,000 after buying an additional 46 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus lowered their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Citigroup increased their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Bank of America increased their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. TD Cowen increased their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Barclays increased their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Stock Performance

NYSE FDX opened at $261.30 on Wednesday. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The business’s 50-day moving average price is $273.81 and its 200 day moving average price is $279.95. The firm has a market cap of $62.93 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.07 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the company earned $3.99 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared 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 of this dividend was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.11%. FedEx’s payout ratio is 35.18%.

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.