Sagespring Wealth Partners LLC Makes New $606,000 Investment in FedEx Co. (NYSE:FDX)

Sagespring Wealth Partners LLC bought a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,156 shares of the shipping service provider’s stock, valued at approximately $606,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC raised its position in shares of 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 acquiring an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. City Holding Co. bought a new stake in FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co bought a new stake in FedEx in the fourth quarter valued at about $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the fourth quarter valued at about $28,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on FDX shares. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Wells Fargo & Company lowered their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. UBS Group reduced their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Finally, TD Cowen dropped their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $300.63.

FedEx Stock Performance

Shares of NYSE FDX opened at $210.31 on Tuesday. 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 stock has a 50 day moving average price of $243.22 and a 200 day moving average price of $265.34. The stock has a market capitalization of $50.39 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the company posted $3.86 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.62%. FedEx’s payout ratio is 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.