Oak Asset Management LLC Sells 91 Shares of FedEx Co. (NYSE:FDX)

Oak Asset Management LLC lowered its position in shares of FedEx Co. (NYSE:FDX) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,244 shares of the shipping service provider’s stock after selling 91 shares during the period. FedEx comprises about 2.1% of Oak Asset Management LLC’s investment portfolio, making the stock its 11th biggest holding. Oak Asset Management LLC’s holdings in FedEx were worth $5,695,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares during the period. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter worth $31,000. FNY Investment Advisers LLC lifted its position in shares of FedEx by 177.5% in the 4th quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock worth $31,000 after purchasing an additional 71 shares during the period. Finally, Abound Wealth Management boosted its stake in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $274.46 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market capitalization of $66.10 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.18 and a beta of 1.20. The stock has a 50-day moving average of $283.85 and a 200 day moving average of $284.46. FedEx Co. has a one year low of $234.45 and a one year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the company earned $3.99 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date was Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Wall Street Analyst Weigh In

Several analysts have commented on FDX shares. Stephens lowered their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday, December 20th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Friday, September 20th. UBS Group upped their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets raised their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.61.

Insider Buying and Selling

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

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.