Pines Wealth Management LLC Buys Shares of 7,042 FedEx Co. (NYSE:FDX)

Pines Wealth Management LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 7,042 shares of the shipping service provider’s stock, valued at approximately $1,906,000. FedEx comprises approximately 0.8% of Pines Wealth Management LLC’s holdings, making the stock its 28th largest position.

Other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI grew its position in shares of FedEx by 74.5% in the second quarter. Citizens Financial Group Inc. RI now owns 1,270 shares of the shipping service provider’s stock valued at $381,000 after purchasing an additional 542 shares during the last quarter. Lmcg Investments LLC lifted its stake in FedEx by 1.7% in the 2nd quarter. Lmcg Investments LLC now owns 61,773 shares of the shipping service provider’s stock valued at $18,522,000 after buying an additional 1,053 shares in the last quarter. Moors & Cabot Inc. grew its holdings in FedEx by 16.8% during the 2nd quarter. Moors & Cabot Inc. now owns 2,575 shares of the shipping service provider’s stock valued at $772,000 after buying an additional 371 shares during the last quarter. Alpha Financial Partners LLC increased its position in FedEx by 8.3% during the second quarter. Alpha Financial Partners LLC now owns 831 shares of the shipping service provider’s stock worth $249,000 after buying an additional 64 shares in the last quarter. Finally, Capstone Wealth Management Group LLC acquired a new position in shares of FedEx in the second quarter worth $307,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was bought 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 $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Trading Up 1.1 %

Shares of FDX opened at $277.63 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market cap of $66.87 billion, a PE ratio of 17.13, a P/E/G ratio of 1.18 and a beta of 1.20. The stock’s 50-day moving average is $283.89 and its two-hundred day moving average is $284.31.

FedEx (NYSE:FDX) last released 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 firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.99 EPS. Equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were issued a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FDX shares. Barclays increased their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird decreased their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Bernstein Bank raised their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $325.61.

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.