Wedbush Securities Inc. Sells 109 Shares of FedEx Co. (NYSE:FDX)

Wedbush Securities Inc. trimmed its holdings in FedEx Co. (NYSE:FDX) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,373 shares of the shipping service provider’s stock after selling 109 shares during the quarter. Wedbush Securities Inc.’s holdings in FedEx were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new stake in FedEx during the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new position in FedEx in the 4th quarter valued at approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated 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 represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 12,711 shares of company stock worth $3,312,693. Insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research reports. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and lowered their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Citigroup dropped their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. TD Cowen decreased their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Bank of America lowered their target price on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Raymond James cut their price target on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.71.

FedEx Stock Performance

FDX stock opened at $209.90 on Friday. The company has a 50 day moving average price of $252.45 and a 200 day moving average price of $268.95. FedEx Co. has a fifty-two week low of $203.90 and a fifty-two week 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 stock has a market capitalization of $50.29 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

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

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

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.