Integrated Wealth Concepts LLC Acquires 426 Shares of FedEx Co. (NYSE:FDX)

Integrated Wealth Concepts LLC raised its holdings in shares of FedEx Co. (NYSE:FDX) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,403 shares of the shipping service provider’s stock after purchasing an additional 426 shares during the period. Integrated Wealth Concepts LLC’s holdings in FedEx were worth $2,364,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FDX. bLong Financial LLC bought a new position in FedEx in the 4th quarter worth about $391,000. Virtu Financial LLC bought a new position in shares of FedEx during the third quarter valued at $3,405,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $461,000. Wedmont Private Capital increased its holdings in FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares in the last quarter. Finally, GFS Advisors LLC purchased a new position in FedEx in the 4th quarter worth about $26,855,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FDX shares. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and cut their price objective for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and cut their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Citigroup reduced their target price on shares of FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, BMO Capital Markets dropped their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $297.71.

FedEx Price Performance

FedEx stock opened at $211.45 on Monday. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. 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 firm’s fifty day moving average is $233.47 and its 200 day moving average is $261.79. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.11 and a beta of 1.24.

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 analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the business posted $3.86 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.61%. FedEx’s payout ratio is 34.63%.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.87% of the stock is currently 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.