Summitry LLC Takes Position in FedEx Co. (NYSE:FDX)

Summitry LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 725 shares of the shipping service provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx during the 4th quarter worth approximately $28,000. City Holding Co. purchased a new stake in FedEx during the fourth quarter valued at approximately $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new position in FedEx in the fourth quarter worth $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the company’s stock in a transaction that occurred 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 purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This 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 corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on FDX. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $300.00 to $275.00 in a research report on Monday. BMO Capital Markets dropped their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday. Wells Fargo & Company dropped their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and decreased their price target for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $300.60.

FedEx Stock Performance

NYSE FDX opened at $241.19 on Wednesday. The stock has a market capitalization of $58.09 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.11 and a beta of 1.23. The stock has a 50-day moving average of $258.58 and a 200 day moving average of $271.75. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $3.86 EPS. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.