Pinnacle Financial Partners Inc Has $2.24 Million Stake in FedEx Co. (NYSE:FDX)

Pinnacle Financial Partners Inc grew its position in FedEx Co. (NYSE:FDX) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,120 shares of the shipping service provider’s stock after purchasing an additional 149 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in FedEx were worth $2,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares in the last quarter. Evermay Wealth Management LLC grew its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx during the fourth quarter worth approximately $28,000. City Holding Co. acquired a new stake in FedEx during the fourth quarter worth approximately $28,000. Finally, Kentucky Trust Co acquired a new stake in FedEx during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $253.97 on Friday. The company has a market capitalization of $61.17 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18. FedEx Co. has a twelve month low of $239.07 and a twelve month high of $313.84. The stock has a fifty day simple moving average of $270.75 and a 200 day simple moving average of $278.13. 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 (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 earnings per share. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s payout ratio is 35.18%.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The stock was 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 directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average price 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 in the company, valued at approximately $2,484,176.66. This trade represents 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 company insiders.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and reduced their price target for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. Wells Fargo & Company upped their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. UBS Group upped their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their target price on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

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.