IAG Wealth Partners LLC Invests $43,000 in FedEx Co. (NYSE:FDX)

IAG Wealth Partners LLC bought a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 152 shares of the shipping service provider’s stock, valued at approximately $43,000.

Several other hedge funds also recently made changes to their positions in FDX. Fortitude Family Office LLC lifted its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new stake in shares of FedEx in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FDX. Stephens reduced their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and reduced their price objective for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $318.58.

FedEx Price Performance

FDX opened at $243.66 on Thursday. The company’s 50 day simple moving average is $264.35 and its 200 day simple moving average is $275.13. 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 Co. has a 1 year low of $239.50 and a 1 year high of $313.84. The stock has a market capitalization of $58.69 billion, a PE ratio of 15.53, a P/E/G ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share 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 analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.99 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.27%. FedEx’s payout ratio is currently 35.18%.

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.