Ethic Inc. increased its position in FedEx Co. (NYSE:FDX - Free Report) by 48.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,254 shares of the shipping service provider's stock after purchasing an additional 4,668 shares during the period. Ethic Inc.'s holdings in FedEx were worth $4,010,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Transce3nd LLC bought a new stake in FedEx in the fourth quarter valued at about $26,000. Peoples Financial Services CORP. bought a new stake in FedEx in the fourth quarter valued at about $28,000. City Holding Co. bought a new stake in FedEx in the fourth quarter valued at about $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on FDX shares. TD Cowen reduced their price target 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. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and reduced their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Raymond James reduced their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Finally, Citigroup lowered their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average price target of $297.63.
Check Out Our Latest Analysis on FDX
Insider Buying and Selling
In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The shares were 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 directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is owned by insiders.
FedEx Price Performance
Shares of FDX stock traded up $0.03 during trading hours on Wednesday, reaching $231.18. The stock had a trading volume of 2,238,731 shares, compared to its average volume of 1,799,083. The stock's fifty day simple moving average is $223.98 and its 200 day simple moving average is $257.46. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a market capitalization of $55.39 billion, a PE ratio of 14.73, a PEG ratio of 1.11 and a beta of 1.36.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 19.14 EPS for the current year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is 34.63%.
FedEx Profile
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Free Report)
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.
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