SteelPeak Wealth LLC Sells 705 Shares of FedEx Co. (NYSE:FDX)

SteelPeak Wealth LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,807 shares of the shipping service provider’s stock after selling 705 shares during the quarter. SteelPeak Wealth LLC’s holdings in FedEx were worth $1,642,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Virtu Financial LLC purchased a new position in FedEx during the 3rd quarter valued at about $3,405,000. Czech National Bank grew its stake in FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Wedmont Private Capital increased its holdings in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. Persium Advisors LLC purchased a new stake in FedEx in the 4th quarter worth approximately $530,000. Finally, Assenagon Asset Management S.A. boosted its holdings in FedEx by 137.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock valued at $64,133,000 after purchasing an additional 132,036 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent analyst reports. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Bank of America upped their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Raymond James lifted their target price on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Finally, UBS Group increased their price target on shares of FedEx from $311.00 to $350.00 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred 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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $275.34 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The business has a 50 day moving average price of $281.09 and a 200-day moving average price of $282.86. The firm has a market cap of $66.32 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) 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 net margin of 4.45% and a return on equity of 15.59%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.99 EPS. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm 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. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

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.