Checchi Capital Advisers LLC Has $535,000 Stake in FedEx Co. (NYSE:FDX)

Checchi Capital Advisers LLC increased its holdings in FedEx Co. (NYSE:FDX) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,901 shares of the shipping service provider’s stock after buying an additional 138 shares during the period. Checchi Capital Advisers LLC’s holdings in FedEx were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Mirae Asset Global Investments Co. Ltd. raised its position in shares of FedEx by 30.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,364 shares of the shipping service provider’s stock valued at $3,847,000 after buying an additional 3,330 shares in the last quarter. Highview Capital Management LLC DE raised its position in shares of FedEx by 10.0% in the third quarter. Highview Capital Management LLC DE now owns 4,372 shares of the shipping service provider’s stock valued at $1,197,000 after buying an additional 396 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the third quarter valued at approximately $31,000. Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of FedEx by 7.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,320 shares of the shipping service provider’s stock valued at $2,277,000 after buying an additional 574 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

FDX stock opened at $256.09 on Thursday. The firm has a market cap of $61.68 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.11 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $239.07 and a 12-month high of $313.84. The company’s fifty day simple moving average is $269.38 and its 200 day simple moving average is $277.65.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 earnings per share. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.16%. FedEx’s dividend payout ratio is currently 35.18%.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets lifted their price objective on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Stifel Nicolaus decreased their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity

In other FedEx news, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.