FedEx Co. (NYSE:FDX) Stock Position Decreased by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its stake in FedEx Co. (NYSE:FDX) by 44.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,361 shares of the shipping service provider’s stock after selling 1,861 shares during the period. Kovack Advisors Inc.’s holdings in FedEx were worth $664,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the period. Evermay Wealth Management LLC lifted its stake in 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 during the last quarter. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. bought a new position in shares of FedEx during the fourth quarter worth about $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter worth about $28,000. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Stifel Nicolaus decreased their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $321.87.

FedEx Price Performance

Shares of NYSE:FDX opened at $258.62 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $62.29 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. The stock has a fifty day moving average of $269.04 and a 200-day moving average of $277.52. FedEx Co. has a one year low of $239.07 and a one year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results 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 analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $3.99 EPS. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.13%. FedEx’s dividend payout ratio is currently 35.18%.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of FedEx 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 of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by 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.