Legacy Trust Sells 50 Shares of FedEx Co. (NYSE:FDX)

Legacy Trust lowered its position in FedEx Co. (NYSE:FDX) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 2,671 shares of the shipping service provider’s stock after selling 50 shares during the quarter. Legacy Trust’s holdings in FedEx were worth $751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in FedEx by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,330 shares of the shipping service provider’s stock worth $10,298,000 after purchasing an additional 2,265 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of FedEx by 19.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 686 shares of the shipping service provider’s stock worth $206,000 after buying an additional 112 shares during the period. Regal Investment Advisors LLC lifted its position in FedEx by 26.2% during the 2nd quarter. Regal Investment Advisors LLC now owns 1,950 shares of the shipping service provider’s stock valued at $585,000 after acquiring an additional 405 shares during the period. EP Wealth Advisors LLC boosted its stake in FedEx by 23.8% during the second quarter. EP Wealth Advisors LLC now owns 3,829 shares of the shipping service provider’s stock worth $1,148,000 after acquiring an additional 737 shares in the last quarter. Finally, Ariadne Wealth Management LP purchased a new stake in FedEx in the second quarter worth about $103,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets raised their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. TD Cowen increased their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Bank of America lifted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.43.

FedEx Trading Down 1.2 %

Shares of FDX stock opened at $275.34 on Thursday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a fifty day moving average price of $281.09 and a 200-day moving average price of $282.86. The company has a market cap of $66.32 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the company posted $3.99 EPS. The firm’s revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by 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.