Modern Wealth Management LLC Raises Stock Position in FedEx Co. (NYSE:FDX)

Modern Wealth Management LLC grew its holdings in FedEx Co. (NYSE:FDX) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,139 shares of the shipping service provider’s stock after purchasing an additional 91 shares during the quarter. Modern Wealth Management LLC’s holdings in FedEx were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Fortitude Family Office LLC increased its position 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 worth $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new stake in FedEx during the 4th quarter worth about $28,000. City Holding Co. acquired a new stake in FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management acquired a new position in FedEx during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $244.26 on Friday. The firm’s fifty day simple moving average is $257.26 and its 200-day simple moving average is $271.36. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market cap of $58.83 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $3.86 EPS. Analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.26%. FedEx’s payout ratio is 34.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FDX shares. Bank of America decreased their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. UBS Group cut their target price on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus lowered their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

Insider Buying and Selling 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 shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by corporate insiders.

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.