Clearstead Trust LLC Has $406,000 Stock Holdings in FedEx Co. (NYSE:FDX)

Clearstead Trust LLC raised its stake in FedEx Co. (NYSE:FDX) by 266.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,443 shares of the shipping service provider’s stock after acquiring an additional 1,049 shares during the period. Clearstead Trust LLC’s holdings in FedEx were worth $406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Citizens Financial Group Inc. RI increased its holdings in FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares in the last quarter. Harbour Investments Inc. increased its holdings in FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after purchasing an additional 40 shares in the last quarter. Cetera Trust Company N.A increased its holdings in FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its holdings in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.5 %

Shares of NYSE:FDX opened at $242.27 on Friday. The business’s 50 day simple moving average is $263.04 and its two-hundred day simple moving average is $274.51. The firm has a market cap of $58.35 billion, a P/E ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. 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 52-week low of $239.50 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the prior year, the company earned $3.99 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s dividend payout ratio is presently 35.18%.

Insider Activity

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FDX shares. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. TD Cowen increased their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus decreased their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial initiated coverage on FedEx in a research note on Thursday. They issued a “buy” rating and a $305.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.04.

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.