Richwood Investment Advisors LLC Grows Holdings in FedEx Co. (NYSE:FDX)

Richwood Investment Advisors LLC grew its stake in FedEx Co. (NYSE:FDX) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,226 shares of the shipping service provider’s stock after buying an additional 245 shares during the period. Richwood Investment Advisors LLC’s holdings in FedEx were worth $626,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC boosted 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 valued at $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter valued at $28,000. City Holding Co. bought a new stake in FedEx during the 4th quarter valued at $28,000. Kentucky Trust Co bought a new stake in FedEx during the 4th quarter valued at $28,000. Finally, Activest Wealth Management bought a new stake in FedEx during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred 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 transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, 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. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $230.25 on Friday. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The company’s 50-day moving average is $259.95 and its 200 day moving average is $272.49. The company has a market capitalization of $55.46 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth 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 (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.86 EPS. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday. BMO Capital Markets lowered their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday. Stephens decreased their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. Finally, Truist Financial initiated coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $301.67.

FedEx Company 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.