Xponance Inc. Acquires 1,119 Shares of FedEx Co. (NYSE:FDX)

Xponance Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,390 shares of the shipping service provider’s stock after purchasing an additional 1,119 shares during the period. Xponance Inc.’s holdings in FedEx were worth $11,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. bLong Financial LLC bought a new position in FedEx in the fourth quarter valued at $391,000. Virtu Financial LLC bought a new position in FedEx in the third quarter valued at $3,405,000. Lodestone Wealth Management LLC bought a new position in FedEx in the fourth quarter valued at $461,000. Wedmont Private Capital grew its position in FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after purchasing an additional 91 shares in the last quarter. Finally, GFS Advisors LLC bought a new position in FedEx in the fourth quarter valued at $26,855,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. Stephens decreased their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Truist Financial initiated coverage on shares of FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $317.48.

FedEx Price Performance

FDX stock opened at $245.58 on Wednesday. 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 Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The firm has a market cap of $59.15 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.11 and a beta of 1.23. The company’s 50-day moving average price is $261.87 and its two-hundred day moving average price is $273.48.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating 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 analyst estimates of $22.14 billion. During the same period last year, the firm earned $3.99 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Buying and Selling at FedEx

In related 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 transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

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.