Avantax Advisory Services Inc. Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Avantax Advisory Services Inc. decreased its holdings in FedEx Co. (NYSE:FDXFree Report) by 29.3% in the third quarter, HoldingsChannel.com reports. The firm owned 11,652 shares of the shipping service provider’s stock after selling 4,820 shares during the quarter. Avantax Advisory Services Inc.’s holdings in FedEx were worth $3,087,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of FedEx by 11.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares in the last quarter. Capital Group Investment Management PTE. LTD. increased its stake in FedEx by 29.3% during the 2nd quarter. Capital Group Investment Management PTE. LTD. now owns 5,740 shares of the shipping service provider’s stock worth $1,423,000 after buying an additional 1,300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of FedEx by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after acquiring an additional 13,642 shares during the last quarter. Vishria Bird Financial Group LLC lifted its position in shares of FedEx by 21.2% in the third quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider’s stock valued at $21,286,000 after acquiring an additional 14,036 shares in the last quarter. Finally, Machina Capital S.A.S. acquired a new stake in shares of FedEx in the third quarter worth approximately $1,453,000. Hedge funds and other institutional investors own 73.61% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $238.31 on Tuesday. The company has a market cap of $59.55 billion, a P/E ratio of 14.12, a PEG ratio of 1.14 and a beta of 1.20. FedEx Co. has a fifty-two week low of $190.83 and a fifty-two week high of $285.53. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average price is $254.78 and its 200 day moving average price is $255.32.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.15). The company had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.36 billion. FedEx had a return on equity of 16.47% and a net margin of 4.87%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.18 EPS. On average, research analysts forecast that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s dividend payout ratio is currently 29.86%.

Insider Activity

In other news, Director Amy B. Lane bought 200 shares of FedEx stock in a transaction that occurred on Tuesday, December 26th. The shares were purchased at an average price of $253.22 per share, with a total value of $50,644.00. Following the completion of the acquisition, the director now directly owns 3,304 shares in the company, valued at $836,638.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were acquired at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the acquisition, the executive vice president now owns 4,745 shares in the company, valued at approximately $1,195,834.90. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy B. Lane bought 200 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average cost of $253.22 per share, for a total transaction of $50,644.00. Following the transaction, the director now directly owns 3,304 shares in the company, valued at approximately $836,638.88. The disclosure for this purchase can be found here. Company insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FDX shares. Melius raised FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. TD Cowen increased their target price on shares of FedEx from $290.00 to $293.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Stephens lowered their price target on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. lowered their target price on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a report on Wednesday, December 20th. Six analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $289.93.

View Our Latest Analysis on FedEx

FedEx Company Profile

(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.

See Also

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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