Millstone Evans Group LLC Takes $123,000 Position in FedEx Co. (NYSE:FDX)

Millstone Evans Group LLC acquired a new stake in FedEx Co. (NYSE:FDX) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 436 shares of the shipping service provider’s stock, valued at approximately $123,000.

A number of other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its stake in FedEx by 6.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,264 shares of the shipping service provider’s stock worth $356,000 after acquiring an additional 81 shares in the last quarter. Gutierrez Wealth Advisory LLC bought a new position in FedEx during the fourth quarter worth $263,000. Lee Danner & Bass Inc. boosted its stake in FedEx by 0.4% during the fourth quarter. Lee Danner & Bass Inc. now owns 64,812 shares of the shipping service provider’s stock worth $18,233,000 after acquiring an additional 277 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in FedEx by 75.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,933 shares of the shipping service provider’s stock worth $544,000 after acquiring an additional 831 shares in the last quarter. Finally, Blueshift Asset Management LLC boosted its stake in FedEx by 93.4% during the fourth quarter. Blueshift Asset Management LLC now owns 2,856 shares of the shipping service provider’s stock worth $803,000 after acquiring an additional 1,379 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

FDX opened at $230.25 on Friday. The firm has a market cap of $55.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The firm has a 50-day moving average of $259.95 and a 200 day moving average of $272.49. 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 fifty-two week low of $217.22 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.86 EPS. On average, research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.40%. FedEx’s dividend payout ratio is presently 35.18%.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FDX shares. Stephens cut their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen lowered their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $301.67.

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.