FedEx Co. (NYSE:FDX) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,821 shares of the shipping service provider’s stock after selling 300 shares during the quarter. Perigon Wealth Management LLC’s holdings in FedEx were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FDX. Fortitude Family Office LLC grew its holdings in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter valued at about $28,000. City Holding Co. purchased a new position in FedEx in the 4th quarter valued at about $28,000. Finally, Highline Wealth Partners LLC purchased a new stake in shares of FedEx during the third quarter worth about $31,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $269.39 on Friday. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $64.88 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.12 and a beta of 1.20. The business’s 50 day moving average is $280.84 and its two-hundred day moving average is $282.81.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.05%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is currently 35.18%.

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction 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 completion of the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group raised their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Citigroup lifted their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Raymond James upped their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Stifel Nicolaus decreased their target price on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, BMO Capital Markets raised their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $325.43.

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.