Wharton Business Group LLC Reduces Position in FedEx Co. (NYSE:FDX)

Wharton Business Group LLC reduced its position in FedEx Co. (NYSE:FDX) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,976 shares of the shipping service provider’s stock after selling 360 shares during the quarter. Wharton Business Group LLC’s holdings in FedEx were worth $5,057,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FedEx by 30.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,364 shares of the shipping service provider’s stock valued at $3,847,000 after acquiring an additional 3,330 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of FedEx by 0.5% during the third quarter. NorthCrest Asset Manangement LLC now owns 19,033 shares of the shipping service provider’s stock worth $5,209,000 after purchasing an additional 91 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of FedEx by 105.6% during the third quarter. Arkadios Wealth Advisors now owns 4,528 shares of the shipping service provider’s stock valued at $1,239,000 after purchasing an additional 2,326 shares during the period. PFG Investments LLC grew its holdings in shares of FedEx by 9.8% in the third quarter. PFG Investments LLC now owns 5,084 shares of the shipping service provider’s stock worth $1,391,000 after purchasing an additional 452 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in FedEx by 2.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,101 shares of the shipping service provider’s stock worth $12,343,000 after buying an additional 1,203 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 5.4 %

FedEx stock opened at $253.97 on Monday. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The business has a fifty day moving average price of $270.75 and a 200-day moving average price of $278.13. 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 $61.17 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18.

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

FedEx Announces Dividend

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 issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FDX. JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and lowered their price target for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Bank of America lifted their target price on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Cowen increased their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

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.