1,096 Shares in FedEx Co. (NYSE:FDX) Acquired by SVB Wealth LLC

SVB Wealth LLC acquired a new position in FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,096 shares of the shipping service provider’s stock, valued at approximately $308,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pettyjohn Wood & White Inc. grew its position in FedEx by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 23,856 shares of the shipping service provider’s stock worth $6,711,000 after purchasing an additional 128 shares during the period. Parkside Financial Bank & Trust grew its position in FedEx by 10.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,603 shares of the shipping service provider’s stock worth $732,000 after purchasing an additional 250 shares during the period. Verus Capital Partners LLC grew its position in FedEx by 2.4% in the 4th quarter. Verus Capital Partners LLC now owns 3,494 shares of the shipping service provider’s stock worth $983,000 after purchasing an additional 81 shares during the period. Schulhoff & Co. Inc. grew its position in FedEx by 27.4% in the 4th quarter. Schulhoff & Co. Inc. now owns 1,675 shares of the shipping service provider’s stock worth $471,000 after purchasing an additional 360 shares during the period. Finally, QRG Capital Management Inc. grew its position in FedEx by 4.9% in the 4th quarter. QRG Capital Management Inc. now owns 73,442 shares of the shipping service provider’s stock worth $20,661,000 after purchasing an additional 3,461 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FDX shares. TD Cowen boosted their price objective on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stephens cut their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and cut their price objective for the company from $365.00 to $283.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.74.

Insider Activity

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

FedEx Stock Up 1.2 %

Shares of FDX stock opened at $250.64 on Thursday. The stock has a market cap of $60.37 billion, a P/E ratio of 15.97, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $242.92 and a 52 week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company’s fifty day simple moving average is $267.66 and its two-hundred day simple moving average is $276.69.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.99 EPS. Analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

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.