West Michigan Advisors LLC Boosts Stock Position in FedEx Co. (NYSE:FDX)

West Michigan Advisors LLC grew its holdings in FedEx Co. (NYSE:FDX) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,105 shares of the shipping service provider’s stock after purchasing an additional 140 shares during the period. West Michigan Advisors LLC’s holdings in FedEx were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FDX. Bryn Mawr Capital Management LLC increased its stake in shares of FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after buying an additional 321,141 shares during the period. Franklin Resources Inc. grew its holdings in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. KBC Group NV increased its position in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $56,065,000. Finally, World Investment Advisors LLC lifted its position in shares of FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 1.8 %

FedEx stock opened at $263.11 on Friday. FedEx Co. has a fifty-two week low of $242.92 and a fifty-two week high of $313.84. The company has a market cap of $63.37 billion, a PE ratio of 16.77, a PEG ratio of 1.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The business’s 50-day simple moving average is $268.78 and its two-hundred day simple moving average is $277.36.

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

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.10%. FedEx’s payout ratio is 35.18%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen lifted their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Barclays upped their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Piper Sandler lowered FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and decreased their price target for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Activity

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

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.