FedEx Co. (NYSE:FDX) Shares Sold by GeoWealth Management LLC

GeoWealth Management LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,192 shares of the shipping service provider’s stock after selling 103 shares during the quarter. GeoWealth Management LLC’s holdings in FedEx were worth $335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in shares of FedEx in the third quarter worth approximately $465,000. Virtu Financial LLC purchased a new position in FedEx during the third quarter worth approximately $3,405,000. Aldebaran Financial Inc. boosted its holdings in shares of FedEx by 8.7% in the 3rd quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider’s stock valued at $307,000 after purchasing an additional 90 shares during the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of FedEx by 4.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $513,000 after buying an additional 76 shares during the last quarter. Finally, Tudor Financial Inc. purchased a new position in shares of FedEx in the 3rd quarter worth $282,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. UBS Group cut their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Stephens decreased their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. cut their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Barclays decreased their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $298.96.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $206.63 on Wednesday. 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 company has a market capitalization of $49.51 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The business has a 50 day simple moving average of $236.77 and a 200-day simple moving average of $262.84.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.67%. FedEx’s payout ratio is currently 34.63%.

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.