Concurrent Investment Advisors LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

Concurrent Investment Advisors LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,426 shares of the shipping service provider’s stock after selling 49 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in FedEx were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Fortitude Family Office LLC boosted its stake in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Peoples Financial Services CORP. purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. Finally, Kentucky Trust Co purchased a new stake in shares of FedEx during the fourth quarter valued at $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 5.4 %

NYSE FDX opened at $253.97 on Monday. The business has a fifty day moving average price of $270.75 and a 200 day moving average price of $278.13. 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 quick ratio of 1.19 and a current ratio of 1.23. The company 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.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $3.99 EPS. Research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus decreased their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. TD Cowen lifted their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Finally, Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares in the company, 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 corporate 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.