Summitry LLC Invests $204,000 in FedEx Co. (NYSE:FDX)

Summitry LLC acquired a new position in FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 725 shares of the shipping service provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently bought and sold shares of FDX. Modern Wealth Management LLC grew its position in FedEx by 4.4% during the fourth quarter. Modern Wealth Management LLC now owns 2,139 shares of the shipping service provider’s stock valued at $552,000 after buying an additional 91 shares during the period. Sound Shore Management Inc. CT boosted its stake in shares of FedEx by 12.8% during the 4th quarter. Sound Shore Management Inc. CT now owns 241,475 shares of the shipping service provider’s stock worth $67,934,000 after acquiring an additional 27,444 shares during the last quarter. Syntax Research Inc. grew its position in shares of FedEx by 1.2% during the 4th quarter. Syntax Research Inc. now owns 11,936 shares of the shipping service provider’s stock valued at $3,358,000 after acquiring an additional 143 shares during the period. Horrell Capital Management Inc. raised its holdings in FedEx by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,675 shares of the shipping service provider’s stock worth $7,504,000 after purchasing an additional 76 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new position in FedEx during the fourth quarter valued at $2,628,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $241.19 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The stock has a market cap of $58.09 billion, a PE ratio of 15.37, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a 50-day moving average price of $258.58 and a 200 day moving average price of $271.75.

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

FedEx Announces Dividend

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 $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is presently 34.63%.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. Citigroup reduced their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. BMO Capital Markets lowered their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. UBS Group decreased their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and dropped their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $300.60.

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.