BankPlus Trust Department Invests $306,000 in FedEx Co. (NYSE:FDX)

BankPlus Trust Department acquired a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, Holdings Channel reports. The fund acquired 1,088 shares of the shipping service provider’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rothschild Investment LLC raised its holdings in FedEx by 0.6% during the 4th quarter. Rothschild Investment LLC now owns 16,115 shares of the shipping service provider’s stock valued at $4,534,000 after buying an additional 99 shares during the period. Crestwood Advisors Group LLC purchased a new stake in FedEx during the 4th quarter valued at $227,000. IFP Advisors Inc increased its stake in FedEx by 10.7% in the fourth quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider’s stock worth $1,906,000 after purchasing an additional 652 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in FedEx in the fourth quarter worth $458,000. Finally, Cabot Wealth Management Inc. increased its stake in FedEx by 0.6% in the fourth quarter. Cabot Wealth Management Inc. now owns 57,067 shares of the shipping service provider’s stock worth $16,055,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $252.94 on Tuesday. The stock has a fifty day moving average price of $270.14 and a 200 day moving average price of $277.95. The stock has a market cap of $60.92 billion, a PE ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a 1 year low of $239.07 and a 1 year high of $313.84. 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 (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity

In other news, Director Amy B. Lane purchased 333 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value 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. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. TD Cowen increased their target price on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Stephens reduced their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays increased their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx 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.