IVC Wealth Advisors LLC Has $403,000 Stock Position in FedEx Co. (NYSE:FDX)

IVC Wealth Advisors LLC cut its holdings in FedEx Co. (NYSE:FDX) by 26.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,432 shares of the shipping service provider’s stock after selling 516 shares during the quarter. IVC Wealth Advisors LLC’s holdings in FedEx were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. Westside Investment Management Inc. grew its holdings in FedEx by 1.0% in the fourth quarter. Westside Investment Management Inc. now owns 4,908 shares of the shipping service provider’s stock worth $1,381,000 after purchasing an additional 49 shares during the period. Cetera Trust Company N.A grew its stake in shares of FedEx by 0.5% in the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares during the period. MBM Wealth Consultants LLC increased its position in FedEx by 3.0% in the 4th quarter. MBM Wealth Consultants LLC now owns 4,817 shares of the shipping service provider’s stock valued at $1,321,000 after buying an additional 142 shares in the last quarter. Missouri Trust & Investment Co raised its stake in FedEx by 3.8% during the 4th quarter. Missouri Trust & Investment Co now owns 5,258 shares of the shipping service provider’s stock worth $1,479,000 after buying an additional 193 shares during the period. Finally, Davis Capital Management boosted its holdings in FedEx by 2.0% in the fourth quarter. Davis Capital Management now owns 3,203 shares of the shipping service provider’s stock worth $901,000 after acquiring an additional 63 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $269.75 on Friday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market capitalization of $64.97 billion, a P/E ratio of 17.19, a PEG ratio of 1.14 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $282.52 and its 200 day moving average is $283.52.

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

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were given 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 2.05%. FedEx’s dividend payout ratio (DPR) is currently 35.18%.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were acquired 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 directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and raised their price objective for the company from $288.00 to $365.00 in a research note on Friday, December 20th. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets raised their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.43.

FedEx 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.