Spire Wealth Management Trims Stake in FedEx Co. (NYSE:FDX)

Spire Wealth Management trimmed its holdings in shares of FedEx Co. (NYSE:FDXFree Report) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,460 shares of the shipping service provider’s stock after selling 208 shares during the period. Spire Wealth Management’s holdings in FedEx were worth $387,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FDX. Baystate Wealth Management LLC raised its stake in shares of FedEx by 60.2% during the 2nd quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. RVW Wealth LLC purchased a new position in FedEx in the third quarter valued at $40,000. Venturi Wealth Management LLC boosted its position in FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $40,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of FedEx in the first quarter valued at about $35,000. 73.61% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.1 %

FDX opened at $241.80 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.14 and a beta of 1.20. The business has a fifty day moving average price of $253.97 and a 200 day moving average price of $255.00. FedEx Co. has a 12 month low of $190.83 and a 12 month high of $285.53.

FedEx (NYSE:FDXGet Free Report) last released its earnings results 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). FedEx had a return on equity of 16.47% and a net margin of 4.87%. The firm had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.36 billion. During the same quarter in the previous year, the company posted $3.18 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were issued a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s dividend payout ratio (DPR) is presently 29.86%.

Insider Buying and Selling at FedEx

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FDX shares. Stifel Nicolaus raised their price objective on FedEx from $282.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. 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. TD Cowen increased their price objective on shares of FedEx from $290.00 to $293.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. StockNews.com upgraded FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 3rd. Finally, Bank Of America (Bofa) increased their price target on FedEx from $330.00 to $334.00 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.93.

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About FedEx

(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.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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