Atria Wealth Solutions Inc. Purchases 373 Shares of FedEx Co. (NYSE:FDX)

Atria Wealth Solutions Inc. increased its position in FedEx Co. (NYSE:FDX) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,242 shares of the shipping service provider’s stock after buying an additional 373 shares during the period. Atria Wealth Solutions Inc.’s holdings in FedEx were worth $3,615,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FDX. Carret Asset Management LLC lifted its stake in FedEx by 2.8% in the 4th quarter. Carret Asset Management LLC now owns 28,641 shares of the shipping service provider’s stock worth $7,245,000 after purchasing an additional 787 shares in the last quarter. Wynn Capital LLC purchased a new stake in FedEx in the 4th quarter worth $1,774,000. Wolverine Asset Management LLC lifted its stake in FedEx by 100.0% in the 4th quarter. Wolverine Asset Management LLC now owns 7,000 shares of the shipping service provider’s stock worth $1,771,000 after purchasing an additional 3,500 shares in the last quarter. Weatherly Asset Management L. P. lifted its stake in FedEx by 2.2% in the 4th quarter. Weatherly Asset Management L. P. now owns 7,692 shares of the shipping service provider’s stock worth $1,956,000 after purchasing an additional 165 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in FedEx in the 4th quarter worth $282,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX opened at $265.84 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $65.42 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.25 and a beta of 1.21. The firm’s 50-day moving average is $262.17 and its 200 day moving average is $254.49. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The business had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.41 EPS. Research analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its board has initiated a share buyback plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.90%. FedEx’s dividend payout ratio is currently 29.07%.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock worth $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of several research analyst reports. Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. TD Cowen boosted their price target on shares of FedEx from $293.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. The Goldman Sachs Group upped their target price on shares of FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Evercore ISI upped their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Jefferies Financial Group upped their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $301.33.

About FedEx

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.