Cabot Wealth Management Inc. Has $16.06 Million Stake in FedEx Co. (NYSE:FDX)

Cabot Wealth Management Inc. boosted its position in FedEx Co. (NYSE:FDX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,067 shares of the shipping service provider’s stock after buying an additional 314 shares during the quarter. FedEx makes up about 2.0% of Cabot Wealth Management Inc.’s holdings, making the stock its 13th biggest position. Cabot Wealth Management Inc.’s holdings in FedEx were worth $16,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of FedEx by 1,289.5% in the third quarter. Assenagon Asset Management S.A. now owns 95,929 shares of the shipping service provider’s stock valued at $26,254,000 after buying an additional 89,025 shares during the period. Lake Street Advisors Group LLC raised its position in FedEx by 2.1% in the third quarter. Lake Street Advisors Group LLC now owns 2,250 shares of the shipping service provider’s stock worth $619,000 after purchasing an additional 46 shares in the last quarter. St. Johns Investment Management Company LLC grew its stake in shares of FedEx by 1.8% in the 3rd quarter. St. Johns Investment Management Company LLC now owns 3,450 shares of the shipping service provider’s stock valued at $944,000 after purchasing an additional 60 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in FedEx by 30.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,364 shares of the shipping service provider’s stock valued at $3,847,000 after acquiring an additional 3,330 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its position in shares of FedEx by 0.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 19,033 shares of the shipping service provider’s stock worth $5,209,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’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 transaction of $1,100,271.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on FDX. Stephens reduced their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets increased their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

FedEx Trading Down 5.4 %

NYSE FDX opened at $253.97 on Friday. FedEx Co. has a one year low of $239.07 and a one 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 firm has a market cap of $61.17 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.11 and a beta of 1.18. The stock’s 50-day moving average is $270.75 and its 200-day moving average is $278.13.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the company posted $3.99 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal 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 issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx’s payout ratio is presently 35.18%.

FedEx 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.